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Equity market opens week with N145bn gain

The domestic equities market opened the week positively due to buying interest in Guaranty (+4.3 percent), MTNN (+3.1%) and WAPCO (+2.6%), which saw investors gain  N145 billion as market capitalisation rose to N20.7 trillion.

The all-share index rose 71bps to 39,493.37 points while year-to-date loss improved to -1.9 per cent.

Trading activity advanced as volume and value surged 108.1 per cent and 281.8 per cent respectively to 522.2m units and N10.7bn.

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Across sectors, performance was bullish as four indicators closed in the green.

On the flip side, sell-offs in Oando (-6.1%) and Dangote Cement (-0.4%) dragged the oil and gas and industrial goods indices lower by 0.5 per cent and 0.1 per cent respectively.

Investor sentiment, as measured by market breadth, strengthened to 2.3x from the 1.5x recorded previously as 28 stocks gained against 12 decliners.

 

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