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The local bourse opened the year on a positive note as the All-Share Index and market capitalization ascended by 2.18% to 41,147.39 and N21.51trillion respectively.

 

Market activity was low as volume and value traded declined. A total volume of 36.8 million units of shares, valued at N275.5million exchanged hands in 1,562 deals. AIICO was the most traded shares by volume with 87.5 million units, while WAPCO topped by value at N222.9million.

The gain in the ASI today was impacted by gains recorded in large and medium capitalized stocks, amongst which includes; BUACEMENT, WAPCO, ZENITHBANK and DANGSUGAR.

 

The equities market breadth closed positive as 33 stocks posted gains while 2 stocks posted declines. BUACEM (+9.89%) led the gainer’s chart for the day, while FCMB (-6.01%) closed top loser.

 

Sectors performance also improved - The Industrial and Insurance sectors recorded the largest gains as they appreciated by 4.66% and 4.39%. Likewise, the Banking, Consumer and Industrial sectors also trailed advancing by 3.68%, 1.41% and 0.09% respectively.

 

 

MorganCapital Research

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