MON 26 JULY, 2021-theGBJournal- Trading in the domestic equities market carried on last week’s bullish performance, as foreign investors’ interest in AIRTELAFRI (+2.3%) inspired the market’s gain. Precisely, the benchmark index notched a 0.5% increase, to close at 38,849.08 points. Accordingly, Month-to-Date gain increased to +2.5%, while Year-to-Date loss moderated to -3.5%.
The total volume of trades increased by 7.1% to 246.56 million units, valued at NGN2.24 billion, and exchanged in 4,676 deals. FIDELITYBK was the most traded stock by volume at 30.54 million units, while GTCO was the most traded stock by value at NGN378.32 million.
Performance across sectors was broadly positive, as all indices in our coverage – Oil and Gas (+2.2%), Industrial Goods (+0.3%), Consumer Goods (+0.3%), and Banking (+0.3%) – save for the Insurance (-0.4%) index posted gains.
As measured by market breadth, market sentiment was positive (1.8x), as 28 tickers gained, relative to 16 losers. OANDO (+9.8%) and FTNCOCOA (+9.8%) topped the gainers’ list, while UNIVINSURE (-9.1%) and LINKASSURE (-7.1%) recorded the most significant losses of the day.-With Cordros Research.
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