Blue chips herald week’s trading on bullish profile

The equities market closed yesterday on a positive note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] appreciated by 1.21 per cent to close at 33,249.19basis points, compared with the 0.81 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 4.06 per cent

Market breadth also closed positive as Forte Oil led 30gainers against 20losers topped by Neimeth at the end of yesterday’s session- an improved performance when compared with previous outlook.

Market turnover however closed negative as volume declined by 10.01 per cent against 9.39 per cent decline recorded in the previous session. Access, First Bank and Fidelity Bank were the most active to boost market turnover. Nigerian Breweries and Access topped market value list.

Volume shockers included Etranzact which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.

Meanwhile, representatives of the Pearl (Performance Earning and Returns Leadership)Awards Nigeria during the week paid a formal visit to the office of the National Association of Securities Dealers [NASD] Over-The-Counter [OTC] market.

The Pearl Awards Nigeria is a non-for profit organisation known for its reward of companies quoted on the Nigeria Stock Exchange for outstanding operational and stock performance with the aim of increasing development of the Nigeria capital market.

The purpose of the visit by the organisation was to discuss areas of partnership and the possible involvement of NASD OTC in the sponsorship of award categories for unlisted companies at its subsequent annual Pearl Awards ceremonies.