THE Nigerian Stock Exchange[NSE] All Share Index[ASI] slipped 0.25 per cent to close at 42,784.30 points yesterday, depressed by the banking (0.49 per cent) and the insurance sector (1.37 per cent).
The oil and gas sector gained 0.25 per cent, followed by the industrial sector with 0.12 per cent. In reaction to its strong first quarter result, Wema bank advanced 9.01 per cent to lead the advancers' chart while Ncr (five per cent),
There was however, a significant pick-up in activity level given the 42.95 per cent and 36.41 per cent jump in volume and value of shares traded. The jump in transaction value was fuelled by
Gauging by the negative market breadth index, sentiment was broadly weak yesterday.
Stocks on the move include
After-tax-profit rose by 177.37 per cent to N6.89 billion. Transcorp recently announced plans to invest about
Meanwhile, at the OTC market, there was sustained intraday volatility as traders engaged in profit-taking early in the week in reaction to the midweek auction. In addition, the Open Market Operation[OMO] bills redemption and inflow of budgetary allocation (FAAC) towards the end of the week brought about system liquidity irrespective of the settlement of the bonds auctioned.
As a result, market activities remained active. However, analysts expect the market to remain at the current levels in the weeks ahead as more demand is expected to filter into the market on the back of the current liquidity status.
The major highlight of the market during the review week were: the release of
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