The Nigerian equities market closed the final trading session of the week in green, gaining 0.73%. However, WTD, the market closed down by 0.17%.
Market breadth index was largely positive with 28 gainers against 7 losers.
MEYER (+9.26%) led the gainers’ chart while IKEJAHOTEL (-9.73%) was the top loser today.
SOVRENINS was the most actively traded stock with about 47million units of shares worth N11million.
· NSE Banking Index: Gained 0.97%, majorly driven by UNITYBNK (+8.22%), ACCESS (+3.48%), GUARANTY (+2.34%), WEMABANK (+1.43%) and UBA (+0.78%)
· NSE Industrial Index: Closed up by 0.77%, following the gain in DANGCEM (+1.61%).
· NSE Oil & Gas Index: Advanced by 0.64%, on the back of the buy interests in MOBIL (+4.04%), ETERNA (+2.50%) and OANDO (+1.03%).
· NSE Consumer Goods Index: Rose by 0.61%, largely due to the improvements in DANGFLOUR (+5.00%), HONYFLOUR (+3.48%), UNILEVER (+2.94%), FLOURMILL (+1.51%) and DANGSUGAR (+1.11%)
The equities market closed up today following the gains across all sectors. Despite the recent sell-off in the equities market, we believe prices at current level presents decent entry opportunities for investors with medium to long term horizon.