Fresh bargain appetite halts four-day bearish trend

• Fumman now trades on NASD’s OTC

THE equities market closed yesterday on a positive note, as Nigerian Stock Exchange (NSE) All Share Index (ASI) appreciated by 0.38 per cent to close at 33,384.59 basis points, compared with the 0.61 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 3.65 per cent.

Market breadth also closed positive as Diamond led 27 gainers against 21 losers topped by Redstarex at the end of yesterday’s session – an improved performance when compared with previous outlook.

Market turnover however closed negative as volume declined by 28.79 per cent against 90.48 per cent uptick recorded in the previous session. Zenith Bank, Fidson and UBA were the most active to boost market turnover. Zenith Bank and Unilever topped market value list.

Volume shockers included 7Up, which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.

Meanwhile, the securities of Fumman Agricultural Product Industries Plc have been admitted to trade on the National Association of Securities Dealers (NASD) Over-The-Counter (OTC) market following its introduction by Integrated Trust and Investments Limited. This brings the total number of admitted securities on the platform to 22.

However, Stanbic IBTC, BGL and Arthur Steven led the NASD OTC market last week.