Daily Market Update (Equities)
Today, the Nigerian equities market closed the week negative as the NGX All Share Index fell by 1.95%, its fourth consecutive daily decline, closing at 98,201.49 points. This pushed the market’s year-to-date (YTD) return down to 31.33%, compared to 33.95% YTD yesterday. Losses in DANGCEM, GTB, and ACCESS were the main drivers of the negative performance, outweighing gains recorded by OANDO, FCMB, and TRANSCORP.
Market activity was mixed with total volume falling by 17.64% to 1.10bn units and value traded increasing by 123.23% to NGN21.60bn. FCMB was the most traded by volume and value.
OANDO, FCMB and NAHCO led the gainers, while ETERNA, DANGCEM and DAARCOMM led the laggards.
Weekly Commentary and Stock Recommendation: 7th October – 11th October 2024