MON, OCT 30 2023-theGBJournal| The Nigerian equities market kicked off this week on a positive note following bargain hunting on DANGCEM (+5.8%) and STANBIC (+9.2%).
Consequently, the All-Share Index advanced by 1.5% to 68,111.71 points, pushing the MTD and YTD returns higher to +2.6% and +32.9%, respectively.
The total volume traded increased significantly by 101.0% to 430.39 million units, valued at NGN8.26 billion, and exchanged in 7,656 deals. UNIVINSURE was the most traded stock by volume at 94.75 million units, while GEREGU was the most traded stock by value at NGN1.95 billion.
From a sectoral perspective, gains in the Industrial Goods (+3.0%), Banking (+1.2%), Insurance (+0.9%), and Consumer Goods (+0.4%) indices reflected the overall market performance. Meanwhile, the Oil & Gas index stayed flat.
As measured by market breadth, market sentiment was positive (2.8x), as 44 tickers gained relative to 16 losers. NNFM (+10.0%) and CHELLARAM (+9.8%) recorded the highest gains of the day, while MEYER (-9.9%) and ABBEYBDS (-9.7%) topped the losers’ list.
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