What shaped the market today?
§ Stagnating economic
growth in the Eurozone and reports of rising borrowing costs in Spain and
France depressed global stock markets today as investors
retreated from the rising risk.
§ In similar winds, the NSE ASI shaved 11bps in today’s session as
downtrends in the Financial Services (-34bps) and ICT (-17bps) sectors
suppressed gains in the Services (+111bps) and Agriculture (+262bps).
§ GUARANTY broke a 9-day run off the reds today, losing 13bps on 64
million units traded at N965 million, making it the day’s most traded
stock. NESTLE on the other hand climbed N9.00 (2.24%) to hit a record
high of N410.
Market Commentary
§ Index lost 11bps,
putting YTD returns at -17.63%.
§ The market recorded a
turnover of N3.57 billion on 249 million units traded, as volume and
value of transactions were respectively 7% lower and 65% higher than
October averages.
§ Losers (16) outnumbered the gainers (14) in today’s session, keeping
market breadth negative.
§ NESTLE, OKOMUOIL and
ETERNAOIL topped the gainers’ chart today, with respective
gains of 
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