MON, OCT 09 2023-theGBJournal|The Nigerian equities market rebounded, up 0.1% to settle at 67,101.33 points Monday, amid investors interest in industrial heavyweight, BUACEMENT (+10.00%) alongside WAPCO (+0.17%) and NB (+9.09%).
These heavyweights were the primary drivers of the overall market’s positive performance, which outweighed losses in Tier-1 banking names such as ZENITHBANK (-0.16%), GTCO(-0.42%) and ACCESSCORP (-0.62%).
As a result, the year-to-date (YTD) return rose to 30.93%, while market capitalization gained N355.46 billion to close at N36.87 trillion.
Meanwhile, the total volume traded fell by 28.2% to 268.66 million units, valued at N3.46 billion, and exchanged in 6,911 deals.
ABCTRANS was the most traded stock by volume at 29.27 million units, while ACCESSCORP was the most traded stock by value at N465.98 million.
Performance across the sectors was broadly positive as the Industrial Goods (+4.0%), Insurance (+1.2%), Consumer Goods (+0.8%) and Oil & Gas (+0.4%) indices printed gains, while the Banking (-0.4%) index was the sole loser of the day.
As measured by market breadth, market sentiment was positive (1.1x), as 26 tickers gained relative to 23 losers. BUACEMENT (+10.0%) and CHIPLC (+10.0%) recorded the highest gains of the day, while PRESTIGE (-10.0%) and FTNCOCOA (-8.3%) topped the losers’ list.
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