Equities Market All Share Index Rises by 0.01% amid Bullish Activity…

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In the just concluded week, the NSE ASI rose marginally w-o-w by 0.01% to settle at 39,485.65 points.

Consequently, the YTD loss of the local bourse moderated to 1.95%.

Specifically, the market reacted slowly to the spike in Q2 2021 GDP growth rate (5.01% y-o-y) and the release of the positive H1 2021 financial result and the 30k interim dividend declared by
ZENITHBANK.

Sectoral performance was
upbeat as three out of the five indices tracked closed in green zone; the NSE Banking, NSE Insurance and the NSE Oil/Gas indices increased by 0.30%, 1.06% and 0.08% to 378.99 points, 190.07 points and 1,976.72 points respectively.

On the flip side, the NSE Consumer Goods and the NSE Industrial indices moderated by 0.43% and 0.19% to 556.59 points and 1,976.72 points respectively.

Meanwhile, trading activity was mixed as total deals and volume of stocks traded increased by 7.84% and 18.36% to 18,647 deals and 1.02 billion units.

Elsewhere, the value of stocks traded fell by 33.24% to N8.18 billion.

In the new week, we expect the equities market index to trade positively as investors are likely to buy banking shares, especially the tier-1 banks amid anticipated interim dividend payment.