Nigeria’s equities market bounced back from Monday’s loss as the benchmark index rose by 0.18% to 26,739.44 basis points.
Analytics according to Cordros Securities attributed the gain to buying interest in MTN NIGERIA COMMUNICATIONS PLC , UNITED BANK FOR AFRICA PLC, and NIGERIA BREWERIES.
“Consequently, the Month-to-Date return increased to +1.46% while the Year-to-Date loss moderated to -14.93%.”
Also, the total volume of trades increased to 394.35 million units, valued at NGN6.54 billion and exchanged in 4,405 deals.
U.A.C.N PLC was the most traded stock by volume at 117.68 million units while MTN NIGERIA COMMUNICATIONS PLC was the most traded by value at N2.17 billion.
Sector performances were mixed, as the Oil & Gas (+0.49%), and Consumer Goods (+0.32%) indices expanded, while the Insurance (-0.40%), Industrial Goods (-0.38%) and Banking (-0.11) indices dipped.
Market sentiment, as measured by market breadth, was positive at as 20 stocks recorded gains relative to 12 losers.
EKOCORP PLC. (+10.00%) and CONOIL PLC (+9.74%) recorded the largest gains, while ASSOCIATED BUS COMPANY PLC (-8.89%) and UNITED CAPITAL PLC (-5.22%) recorded the largest declines.