Nigerian Capital Market Equities Riding on a strong market breadth, demand in the Industrial sector and relatively few headwinds, market overcame sell-downs in Oil/Gas equities likes of OANDO (-10.68%), CONOIL (-7.89%) and ETERNA (-3.37%) to record a weekly gain of 0.14%; on the back of three trading session of gains at the start of the week, and two session of losses to close out the week. The Industrial sector continued the rallies seen in recent weeks as Lafarge subsidiaries, WAPCO (6.23%) and ASHAKACEM (1.47%), continue to gain ahead of the expected merger. All but one of the NSE sectoral indices reflected the broader market performance. The Industrial index led the gainers chat with a 2.28% increase, the Insurance index followed with a 1.50% rise while the Consumer Goods and Banking indices added 0.58% and 0.14% respectively. However, the Oil/Gas index dropped 1.79%. Market breadth improved as 48 advancers and 32 laggards were recorded, in contrast to the 40 gainers and 38 losers posted last week. 1.78 billion Shares, valued at N19.90 billion were traded during the week, lower than the 1.83 billion Shares, valued at N19.39 billion exchanged last week. FBNH, UNITYBNK and FIDELITYBNK were the most traded stocks this week, accounting for a 88.26% of the total volume, while FBNH, GUARANTY AND OANDO contributed 38% of the total value of transactions.
Posted on: Mon, 21 Jul 2014 08:39:00 +0000
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