Daily Market Update (Equities)
Today, the Nigerian equities market halted it negative trend as the NGX All Share Index surged by 0.20%, closing at 99,671.28 points. This pushed the market’s year-to-date (YTD) return up to 33.30%, compared to 33.03% YTD yesterday. Gains in SEPLAT, PRESCO, and GTCO were the main drivers of the positive performance, outweighing losses recorded by FBNH, GUINNESS, and TRANSCORP.
Market activity also witness positive sentiment, with total volume and value traded increasing by 41.84% and 25.20% respectively, to 420.87mn units and NGN6.83bn. FIDELITYBK was the most traded by volume, while SEPLAT led in terms of value traded.
CUTIX, LEARNAFRCA and CAVERTON led the gainers, while REDSTAREX, DAARCOMM and GUINNESS led the laggards.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024