Today, bullish sentiment pushed the domestic bourse higher 0.9% to close at 47,329.80 points, supported by DANGCEM (+5.5%), OANDO (+10.0%), and UBN (+1.7%). Thus, YTD return improved to 10.8% from 9.9% while market capitalisation rose ₦215.1bn to ₦25.5tn. Volume and value traded declined 20.3% and 38.8% respectively to 346.7m units and ₦3.8bn. Performance was mixed as 3 indices gained, 2 lost while AFR-ICT index 9.2 closed flat. The Industrial Goods and Oil & Gas indices gained 2.7% and 1.4% respectively due to price appreciation in DANGCEM (+5.5%) and OANDO (+10.0%). Trailing, the Insurance index rose 0.2% following price uptick in LINKASSURE (+6.1%) and CORNEST (+1.8%). Conversely, the Banking
and Consumer Goods indices shed 0.5% and 0.2% respectively due to sell-offs in ZENITH (-1.3%), ETI (- 0.8%), INTBREW (-2.5%), and CHAMPION (-8.7%). Investor sentiment, as measured by market breadth, weakened to 0.1x from 0.2x as 23 stocks gained, 19 lost while 63 were unchanged. In the final trading session of the week, we expect the positive sentiment to linger.
