NGX trading sustains positive performance.. ASI up 1.0%

Gains in BUACEMENT (+4.7%), WAPCO (+9.1%), and MTNN (+1.0%) pushed the NGX-1.0% to close at 119,790.82 points. As a result, YTD return improved to 16.4% (previously: 15.2%), while capitalisation rose 1.0% to #75.6tn. Activity level improved as volume and value traded rose 32.9% and 11.2% to 868.7m units and #23.7bn, respectively. Across sectors performance was bullish as five indices closed northward, while the Oil & Gas index shed 1.5% on the back of loses in OANDO (-3.9%). The Industrial and Consumer Goods indices extended gains, up 3.1% and 2.0% respectively, due to price uptick in WAPCO (+9.1%), BETAGLAS (+10.0%), DANGSUGA (+10.0%), and INTBREW (+7.1%). Following suit, the Banking and AFR-ICT indices gained 0.9% and 0.5% accordingly, on the back of price appreciation in ZENITH (+4.2%), FIDELITY (+4.0%), MTNN (+1.0%), and CWG (+9.9%). Similarly, the Insurance index gained 0.1%, following buy interest in NEM (+1.8%), and AlICO (+1.9%).
Investor sentiment, as measured by market breath, improved to 0.83x (from 0.39x) as 61 stocks advanced, 23 declined, while 46 closed flat. Tomorrow, we expect the positive performance to be sustained supported by upbeat investors sentiment.