THE Nigerian stock market closed on a positive note on Monday, as NSE ASI appreciated by 0.27% to close at 25,890.94basis points, compared with the 0.01% appreciation recorded previously.
Its Year-to-Date (YTD) returns currently stands at -9.61%
Market breadth closed negative as Tiger Brands led 20gainers against 12losers topped by Union Dicon at the end of today’s session- an improved performance when compared with previous outlook.
Market turnover closes negative as volume declined by 27.49% against 19.03% decline recorded in the previous session. Zenith Bank, Fidelity bank and FBNH were the most active to boost market turnover. NB and Zenith Bank top market value list.
Analysis of the market activity in the week ended March 04, 2016 technically revealed a renewed and active optimistic trading, particularly towards big CAPs while price volatility waned significantly on the back of low speculative trading.
Also, an extensive analysis revealed a sustained moderate growth in accumulation level as market maintained opportunistic buying postures, particularly in Consumer Goods, Conglomerates, and Financial Services sectors.
Also, volume analysis revealed moderate buy tendency towards Tiger Brands, Africa Prudent, Oando and UCAP while investors displayed negative sentiments towards STERLNBANK, FBNH, and FCMB
In addition, investors displayed fresh and growing bargain tendencies in some active sectors, particularly in Financial Services, Industrial Goods and Consumer Goods sectors. Meanwhile, we observed sustained and growing sell tendency in Oil and Gas and Services sectors respectively
Summarily, the bulls rule last week, strengthening the key benchmark index by 1,591.31 points against 203.72 loss recorded in the previous week to close at 25,820.10- ASI remains depressed and battered below its key resistance level at 41,957.50.

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