Stocks open week bullish, extend five-day bargain hunting

THE equities market closed today on a positive note, as the Nigerian Stock Exchange (NSE) All Share Index (ASI) appreciated by 1.39 per cent to close at 29,793.13 basis points, compared with the 0.35 per cent appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -14.03 per cent.

   Market breadth also closed positive as ACCESS led 26 gainers against 15 losers topped by  BETAGLAS at the end of yesterday’s session- an improved performance when compared with previous outlook.

   Market turnover closes positive as volume moved northwards by +10.40% against -50.78% decline recorded in the previous session. UBA, FBNH and ACCESS were the most active to boost market turnover. GUARANTY and UACN top market value list.

   MRS leads the list of active stocks that record impressive volume spike at the end of yesterday’s session.

   Meanwhile, the National Association of Securities Dealers (NASD) Over The Counter (OTC) has opened eligible securities webpage.

   The page documents securities that are eligible to trade.

   “Eligible to trade” means that the company has fully met the requirements of the Securities and Exchange Commission (SEC) for public trading but has not yet been introduced by any NASD participating institution for trading.

  The association also encouraged shareholders to approach their stockbrokers if they do not see their share listed on either the admitted or the eligible lists.

   Meanwhile, the top 15 brokers on the NASD OTC market who comprise the “Leader Board” remained the same this week.

    They are Stanbic Ibtc Stockbrokers Limited, Nigerian International Securities Limited, Bgl Securities Limited, Magnartis Finance & Investment Limited, Valmon Securities Limited, Wstc Financial Services Limited, Resort Securities & Trust Limited and Csl Stockbrokers Limited.

   Others are Capital Bancorp Plc, Cordros Capital Limited, Arthur Steven Asset Management Limited, Anchoria Investment & Securities Limited, Reward Investments & Services Limited, Core Trust & Investment Limited as well as Trusthouse Investments Limited.