TUE 06 JULY, 2021-theGBJournal- The domestic equities market traded with bullish sentiments, as foreign investors’ demand for SEPLAT (+7.1%) and bargain hunting in Tier-1 Banking stocks — ZENITHBANK (+2.9%), ACCESS (+5.1%) and UBA (+5.4%) — spurred the market’s gain.
Accordingly, the All-Share Index rose above the 38,000 psychological mark, advancing by 0.5% to 38,418.04 points. Consequently, the Month-to-Date gain increased to 1.4%, while the Year-to-Date loss moderated to -4.6%.
The total volume of trades increased by 2.2% to 288.93 million units, valued at NGN2.42 billion and exchanged in 4,540 deals. FIDELITYBK was the most traded stock by volume at 42.07 million units, while SEPLAT was the most traded stock by value at NGN418.50 million.
Sectoral performance was broadly positive, as the Oil & Gas (+4.9%), Banking (+3.3%), Industrial Goods (+0.1%), and Consumer Goods (+0.1%) indices all recorded gains. On the other hand, the Insurance (-0.3%) index was the sole loser.
As measured by market breadth, market sentiment was positive (2.7x), as 27 tickers gained relative to 10 losers. MAYBAKER (+9.7%) and UAC-PROP (+9.6%) topped the gainers’ list, while ETERNA (-9.7%) and LINKASSURE (-9.4l%) topped the losers’ list.
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