NSE maintains positive momentum as benchmark index gains 0.27%
The Nigerian Stock Exchange maintained its positive momentum on Wednesday as it gained for the second day posting +0.27% at the close of trading, thus bringing YtD return -6.65%. Ex-DANGCEM (which lost 0.57%), the market would have returned 60bps. Volume and value traded declined by 37.03% and 30.16% respectively. All NSE sectoral indices recorded gains with NSEINS10 (+0.89%) gaining the most.
Market mood was positive as 25 stocks advanced against 21 which declined, pegging market breadth at 1.19x. MOBIL, SEPLAT and CUSTODYINS topped the gainers' list returning 7.39%, 5.00% and 4.92% respectively while the losers' list was led by FIDSON, JOSBREW and COSTAIN which lost -5.22%, -4.74% and -4.35% in that other.
Meri- sectoral Indices posted gains save for MERI-IND Index which shed 40bps. MERI-OILG and MERI-INS recorded the highest sector gains with 2.55% and 1.10% respectively.