Nigerian equities maintain strong rally on Thursday

The Nigerian Equities market extended previous gain as index moved up by 103bps to peg the Year–to-date return (YTD) at 11.40 per cent.

The index and the market capitalization closed higher at 42604.40 and N15.29 billion respectively. Market breadth closed in favour of bull, with 29 gainers and 24 losers.

Sectoral indices closed upbeat strengthening the NSEASI as all indices closed stronger save for NSEINS which maintained previous close of 154.93

Top five slots of the gainer’s chart were occupied by FBNH (8.23%), WAPIC (6.25%), MAYBAKER (5.00%), CUTIX (5.00%) and DANGSUGAR (4.76%). On the other hand, the loser’s chart was topped by CAVERTON (-8.77%) trailed by COURTVILLE (-8.70%), FIRSTALUM (-7.50%), UNIC (-5.56%) and UNITYBNK (-5.52%).

MULTIVERSE, SKYEBANK, ACCESS, FCMB and FBNH top the activities chart in terms of volume while GUARANTY, ZENITHBANK, ACCESS, GLAXOSMITH and FBNH topped the trade value chart.

Transaction level in terms of volume and value improved by 18.13 per cent and 33 per cent respectively.

The equities market close positive again today as expected on improved bargain hunting which might play either way in the next trading session as sentiment remains quite uncertain, we can only hope for another round of bargaining to reduce expected loss week-on-week. Analysts at APT Securities and Funds Limited explained.