The domestic stock market reversed Wednesday’s loss as bargain hunting in AIRTELAFRI (+4.8%) drove the All-Share Index higher by 0.5% to 100,503.21 points. As a result, the Month-to-Date and Year-to-Date returns increased to +0.5% and +34.4%, respectively.
The total volume traded declined by 64.3% to 392.80 million units, valued at NGN8.33 billion, and exchanged in 9,013 deals. GTCO was the most traded stock by volume at 39.75 million units, while AIRTELAFRI was the most traded stock by value at NGN2.25 billion.
Sectoral performance was mixed, as the Oil and Gas (+0.2%) and Consumer Goods (+0.1%) indices advanced while the Insurance (-2.4%) and Banking (-2.3%) indices printed losses. Elsewhere, the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.8x), as 28 tickers lost relative to 23 gainers. LINKASSURE (-10.0%) and VERITASKAP (-10.0%) topped the losers’ list, while UCAP (+9.9%) and OANDO (+9.8%) recorded the most significant gains of the day.
