Daily Trust

Lo­cal stock mar­ket closes flat again

- From Sun­day Michael Ogwu, La­gos

The do­mes­tic eq­ui­ties mar­ket closed yes­ter­day’s trad­ing ses­sion flat as the bench­mark in­dex stood at 28,344 points while mar­ket cap­i­tal­i­sa­tion and re­turn re­mained un­changed at 14.8 tril­lion and 5.6 per cent re­spec­tively.

Ac­tiv­ity level rose as av­er­age vol­ume and value traded im­proved by 56.7% and 60.1% to 342.2 mil­lion units and 5 bil­lion.

The most traded stocks by vol­ume were UBA (92.9m units), Zenith (67.2m units) and Guar­anty Trust Bank(67.2m units) while Guar­anty (1.8bn), Zenith (1.4bn) and UBA (613.6m) led by value.

Per­for­mance across sec­tors was mixed as two of six in­dices un­der re­view closed south­wards, 2 gained while 2 closed flat.

The Bank­ing and In­sur­ance in­dices were the un­der­per­form­ers, down 0.7% and 0.4% fol­low­ing losses in Ac­cess (-1.3%), Guar­anty (-1.7%) and AIICO (-3.6%).

On the flip side, gains in Guin­ness (+3%), In­ter­na­tional Brew­ery (+3.2%) and Wapco (+4%) buoyed the Con­sumer and In­dus­trial Goods in­dices higher by 0.4% and 0.3% re­spec­tively while the Oil & Gas and AFR-ICT in­dices closed flat.

In­vestor sen­ti­ment as mea­sured by mar­ket breadth fell to 1.0x from the 1.3x recorded pre­vi­ously as 13 stocks gained against the 12 that de­clined.

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