Nigerian equities market sustains positive trend an index up 0.08% Monday

The Nigerian Equities market sustained a positive form for the fourth successive trading session on Monday as NSE ASI increased by 0.08 per cent from its previous close of 37,944.60 points to close at 37,974.58 points.

Market capitalization stood at N13.206 trillion and market breadth closed in favour of the bears with a ratio of 0.76 as 25 losers outnumbered by 19 gainers.

A further analysis of the day trading shows that NSE 30, NSE BNK and NSE OILGAS all shed points while NSEINS, NSE CNSMRGDS, NSE LOTUSISLM and NSE INDSTR closed in the green zone with the consumer goods sector index positively outperforming all other sector indices in the day trading. NSE ASEM maintained its previous close.

Trade volume and trade value both decreased from 11.7 million shares valued at 21 billion naira by -95.75 per cent and -70.27 per cent to close at 500 million shares and 6.36 billion naira by the closing bell today.

The equities market’s marginal gain can be attributed to activities in the consumer goods and industrial sectors among others.

The increased activity in the aforementioned sectors was majorly driven by CADBURY, NESTLE, DANGCEM and DANGSUGAR. We foresee an uptrend in the next trading session as there is still room for bargain hunting.