Market halts 4-day losing streak; NSE ASI climbs by +0.96%

Proshare

Wednesday, June 26, 2013 7:00 PM The Analyst

The equities market closed today on a positive note, as the NSE ASI appreciated by +0.96%to close at 36,095.27 points, compared with the depreciation of -1.96% recorded previously.. Its Year-to-Date (YTD) return currently stands at +28.55%.

The appreciation in the Index today is as a result of the gains recorded in the share prices of
DIAMONDBNK, FBNH,  OKOMUOIL, INTBREW, ZENITHBANK, NB and OANDO. The Market Capitalization also appreciated by +0.96% to close at N11.40trn (US$71.27bn), compared with depreciation of -1.96% recorded previously to close at N11.29trn (US$70.59bn).

NSE-Oil, NSE-Food and NSE-BNK stocks were the most supportive today as captured by NSE sector indices. NASCON and CADBURY led the price winners with above 9% gain each; NSE-LII dips up -0.20% as NSE-IND also moved southward by -2.62%. AIRSERVICE lost 10% to close at NGN4.68kobo leading on the losers' chart.

Market outlook reveals renewed bargain activities across the board with strengthened breadth as the bulls regain consciousness to push back the key benchmark indices above 36,000 psychological while keeping the bears at bay. We expect market to hold its breadth firm while investors are likely to hunt the weathered stocks in the coming sessions.

Daily Market Report this week:
Mon -
240613 – Stocks open week with battered breadth; ASI remains flat at 26days low
Tue -
250613 – Profit-takers maintain focus, MTD stands at -5.41 as stocks extend losing streak

The Analyst 

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Market Index
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Compare Quotes
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Top Stock by volume
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Strong Bid
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Strong Offer
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Wks high today
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