Markets
Nigerian equity market gains 0.1%
The Nigerian equity market opened the week on a positive note, driven by gains recorded by DANGCEM (+0.6%), GTCO (+0.8%), and FBNH (+1.2%).
The NGX All-Share Index rose 0.1% to 42,394.71 points, market capitalisation gained ₦21.6billion to ₦22.1trillion and year-to-date return improved to 5.3% from 5.2%.
Trading activity weakened as volume and value traded fell 58.4% and 29.7% respectively to 142.2million units and ₦2.5billion.
FBNH (20.2m units), GTCO (10.6m units), and SOVRENINS (10.1m units) led by volume while DANGCEM (₦726.3m), MTNN (₦357.2m), and GTCO (₦270.9m) led by value.
The Industrial Goods index led gainers, up 0.31% due to buying interest in DANGCEM (+0.6%), while the Banking and Consumer Goods indices gained 0.29% and 0.03& respectively due to bargain hunting in GTCO (+0.8%), FBNH (+1.2%), HONYFLOUR (+1.5%), and CADBURY (+1.2%).
On the other hand, the Insurance index lost the most, down 0.48% due to sell pressure on WAPIC (-1.9%) and CHIPLC (-6.9%).
Also, the Oil & Gas and AFR-ICT indices shed 0.41% and 0.30% respectively following losses in OANDO (-2.1%) and MTNN (-0.6%).
NEIMETH (+9.8%), UPDC (+9.4%), and ROYALEX (+8.7%) led 18 other gainers while CILEASING (-8.7%), CHIPLC (-6.9%), and WAPIC (-5.9%) led nine other decliners.
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