Market Today | 9th July, 2019

9th July, 2019 | Airtel Listing Drives Market up as ASI Gains 11bps.

The Nigerian equities market today closed positive as NSE-ASI gained 0.11% to close at 29,318.85pts.

However, market breadth index was negative with 9 losers against 20 gainers.

AIRTELAFRI (+10.00%) led the gainers’ chart today while GLAXOSMITH (-9.78%) was the top loser.

CORNERST was the most actively traded stock with over 80million units of shares worth about N16million.

The equities market inched up today due to the gain in the newly listed Airtel Africa (AIRTELAFRI) stock. Despite the recent losses, we maintain that prices at current level present decent entry opportunities for investors with medium to long term horizon.

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