Oct 27 (Lagos) - The Nigerian market closed flat, as the All-Share index recorded a 0.20 points gain to close at 41,814.94 points. Market breadth turned negative (0.87x), after sell-offs were recorded in a total of 23 stocks, with the likes of NGXGROUP (-461bps),
NB (-282bps),
OANDO (-198bps),
UCAP (-217bps), and
FBNH (-120bps) closing the day in the red zone.
Meanwhile, gains in
INTBREW (+928bps),
UACN (+318bps),
ETI (+195bps),
MANSARD (+122ps), and
WAPCO (+121bps) barely pushed the index up, as the session closed with a total of 20 advancers.
Yesterday market activity trended down, with volume and turnover declining by 48% and 26% to 348m units and N 5.5 billion respectively.
so what will shape the market today?
Q3 corporate earnings continue to fuel sentiments in the market and analysts at Vetiva securities ltd expect investors to ride on this wave in the short-term, while still taking positions in fundamentally sound names.
Stocks to Watch.
On the bid Cart: INTBEW closed the day among the best gainers, advancing 9.28% to settle at N 5.30, reducing YTD loss to 10.92%.
On the Offer Cart:
FTNCOCOA closed the session as one of the worst performing stock, shedding 6.25% to close at N 0.45. Meanwhile, the cocoa processing company has lost 31.80% YTD.
reporting for easykobo.com on Wednesday, Oct 27 2021 from Lagos, Nigeria
reporting for easykobo.com on Wednesday, Oct 27 2021 from Lagos, Nigeria
Source - analysts at Vetiva securities ltd in Victoria Island, Lagos