The benchmark index maintained a positive performance for the third consecutive day yesterday advancing 0.36 per cent to 30,989.6 points buoyed by gains in Dangote Cement (+1.1%), Guaranty Trust Bank (+1.8%) and Access Bank (+6.2%).

As a result, Year-To-Date (YTD) loss improved to -1.4 per cent as market capitalisation increased by N43.2 billion to N11.6 trillion.

However, activity level was mixed as value traded rose 6.0% to N3.1bn while volume traded fell by 28.7 per cent to 268.3 million units.

The top traded stocks by value were Zenith Bank (N806.5m), Guaranty Trust Bank (N411.5 m), and Seplat Petroleum Development Company (N280.4m), while Zenith Bank (36.5m units), United Bank for Africa (31.6m units) and FBN Holdings (29.0 m units) were the top traded stocks by volume.

Across sectors, performance was bullish as four of five indices under our coverage advanced.

The Insurance index gained 1.1 per cent due to price appreciation in Mansard Insurance (+7.5%) and Cornerstone Insurance (+5.0%) while the banking index trailed, rising by 0.7 per cent on the back of gains in Access Bank (+6.2%), Guaranty Trust Bank (+1.8%) and Wema Bank (+3.2).

The Oil and Gas index posted a similar performance, up 0.7 per cent following bargain hunting in Oando (+1.1%) while the Consumer Goods index closed flattish as inched 1bp propped by gains in Champion Breweries (+2.6%) and Honeywell Flour Mills (+4.9%). However, the Industrial Goods index performed negatively, down 1.0 per cent due to losses in Cement Company of Northern Nigeria (-4.0%).

 

Source : independent.ng