MON, AUGUST 07 2023-theGBJournal |Nigerian stock market closed slightly higher Monday as more corporate report earnings roll in and with investors eyes fixated on bargain hunting.
Bargain-hunting in MTNN (+1.1%) spurred a 0.2% increase in the All-Share Index to 65,336.80 points. Accordingly, the Month-to-Date and Year-to-Date returns settled at +1.6% and +27.5%, respectively.
The total volume of trades declined by 7.9% to 334.33 million units, valued at NGN3.89 billion and exchanged in 6,940 deals. STERLINGNG was the most traded stock by volume at 55.14 million units, while MTNN was the most traded stock by value at NGN559.39 million.
Analysing by sectors, the Banking (+0.8%) and Oil & Gas (+0.1%) indices recorded gains, while the Insurance (-1.2%) and Consumer Goods (-0.1%) indices declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was mixed (1.0x), as an equal number of tickers (25) gained and lost. ENAMELWA (+9.9%) and WEMABANK (+9.8%) topped the gainer’s list, while OMATEK (-8.8%) and PRESTIGE (-7.8%) recorded the highest losses of the day.
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