WED 30 JUNE, 2021-theGBJournal- The local bourse extended yesterday’s bullish momentum, as bargain hunting by proprietary traders in NESTLE (+10.0%) drove the market higher. Thus, the NGX ASI edged up by 0.7% to 37,907.28 points. Accordingly, the Month-to-Date and Year-to-Date losses moderated to -1.4% and -5.9%, respectively.
The total volume of trades declined by 6.7% to 213.70 billion units, valued at NGN3.23 billion, and exchanged in 3,522 deals. WEMABANK was the most traded stock by volume at 18.31 million units, while MTNN was the most traded stock by value at NGN1.67 billion.
Sectoral performance was mixed, following gains in the Consumer Goods (+4.8%) and Oil & Gas (+0.7%) indices and losses in the Insurance (-0.1%) and Banking (-0.1%) indices. The Industrial Goods index remained flat.
As measured by market breadth, market sentiment was positive (1.3x), as 20 tickers gained, relative to 16 losers. NESTLE (+10.0%) and IKEJAHOTEL (+9.9%) topped the gainers’ list, while BOCGAS (-10.0%) and SOVRENINS (-7.1%) recorded the most significant losses of the day.
Twitter-@theGBJournal|Facebook-The Government and Business Journal|email: govandbusinessj@gmail.com
