WED 10 MARCH, 2021-theGBJournal-The local bourse retraced yesterday’s loss, as bargain buying in DANGCEM (+3.6%) and NESTLE (+1.9%) spurred a 0.6% gain in the benchmark index to 38,931.25 points. Consequently, the Month-to-Date and Year-to-Date losses moderated to -2.2% and -3.3%, respectively.
23 stocks posted gains while 21 stocks declined.
The total volume traded declined by 24.9% to 368.22 million units, valued at NGN4.91 billion, and exchanged in 4,437 deals. UBA was the most traded stock by volume at 74.84 million units, while GUARANTY was the most traded stock by value at NGN1.06 billion.
Analysing by sectors, the Industrial Goods (+1.7%), Consumer Goods (+0.4%), and Insurance (+0.2%) indices recorded gains while the Banking (-0.4%) index declined. The Oil & Gas index closed flat.
As measured by market breadth, market sentiment was positive (1.1x), as 23 tickers gained, relative to 21 losers. MORISON (+9.7%) and CHAMPION (+8.9%) topped the gainers’ list, while CHIPLC (-10.0%) and ETERNA (-9.9%) recorded the largest losses of the day.