Riding on the positive sentiments seen across major sectors, the All-Share index continued its uptrend, advancing by 14bps to close at 47,394.53 points. Stocks such as OKOMUOIL (+563bps), ETI (+529bps), HONYFLOUR (+536bps), WAPCO (+247bps), and ZENITHBANK (56bps) lifted the index, while thelike of VITAFOAM (-490bps), TRANSCORP (-238bps), NGXGROUP (-176bps), and OANDO (-144bps) saw price depreciations. On activity level, due to several block transactions in FCMB, the number of traded shares in the counter grew by 108% to 104m units, while market’s traded volume improved by 18.69% to 300m units. However, market turnover printed at ?2.7 billion with an uptick of 0.61%. Finally, market breath closed at 1.53x after 23 stocks advanced and 15 declined.

What will shape the market tomorrow?

With cross trades and corporate disclosure boosting today’s session, we expect to see market pick up from the positive close as investors continue to cherry pick attractive names across board. 

Stocks to Watch

On the bid Cart: Following NGXINS’s negative close on Friday, insurance counters started the week strong, dominating the top 5 gainers chart. The sector closed up by 99bps. 

On the Offer Cart: VITAFOAM started the week on the top losers chart with a 4.90% price decline to close at ?22.30, dragging the stock’s YTD return to the negative region - 0.89%.