The local bourse opened trading for the week on a positive note, due to gains in MTNN (+4.0%), GTCO (+4.9%), and BUACEMENT (+1.1%). Consequently, the Nigeria Exchange All Share Index ASI, rose 0.9% to 46,624.67 points while Year to to date YTD, in return improved to 9.1% and market capitalisation increased ₦226.1 billion to ₦25.1 trillion. Volume traded advanced 39.0% to 435.8m units while value traded declined 31.7% to ₦3.4 billion.
Across our coverage sectors, performance was bullish as 4 indices gained while 2 declined. The AFR-ICT and Industrial Goods Indices led gainers, up 1.8% and 0.5% respectively due to buying interest in MTNN (+4.0%) and BUACEMENT (+1.1%). Trailing, the Banking and Oil & Gas indices rose 0.4% and 0.3% respectively on account of gains in UBA (+1.8%), ZENITH (+1.2%), and OANDO (+2.2%). Conversely, the Insurance and Consumer Goods indices dipped 0.2% apiece due to sell pressure on LINKASSURE (-7.8%), MBENEFIT (-7.1%), and NIGERIAN BREWERIES (-0.1%). Investor sentiment, as measured by market breadth, weakened to 0.2x from 0.6x as 33 stocks gained, 23 lost while 109 were unchanged.
