NSE market indicators record marginal growth of 0.02%

Salamatu Ejembi Lagos

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The Nigerian Stock Exchange (NSE) Building

The Nigerian equities market recorded its first gain this week, as the benchmark index widened marginally by 0.02% to 27,607.02 points, following late rally in MTN NIGERIA COMMUNICATIONS PLC.

Thus, Cordros Securities analysis states that the Month-to-Date and Year-to-Date losses moderated to -0.40% and -12.16%, respectively.

Total volume of trades decreased by 29.0% to 130.37 million units and valued at NGN3.00 billion.

TRANSCORP was the most traded stock by volume at 39.09 million units, while MTN NIGERIA COMMUNICATIONS PLC, was the most traded by value at N 2.14 trillion.

Analysing sector performances, gains in Insurance (+2.25%), Industrial Goods (+1.00%) and Oil & Gas (+0.86%) indices offset declines in the Banking (-1.34%) and Consumer Goods (-0.10%) indices, respectively.

Market sentiment, as measured by market breadth, was flat as 13 stocks recorded losses and gains respectively.

On the gainers’ list, JOHNHOLT gained 10.0% and CORNERST also gained 10.0%, thereby recording the largest gains.

While HONEYWELL FLOURMILLS PLC fell by 7.41% and P Z CUSSONS NIGERIA PLC. by 5.60%, recording the largest declines.

Peace PIAK