November 19, 2018
By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Monday closed the first trading session of the week positive, gaining 0.51 percent to 31,864.80 basis points compared to +0.61 percent decline posted previously; bringing its Year-to-Date (YTD) returns to a negative -15.74 percent.
InvestmentOne reports that market breadth index was notably positive with 27 gainers compared to 5 stocks that declined.
According to the update, drug-maker, GlaxoSmithKline Consumer Nigeria Plc with a gain of +9.96 percent emerged the topmost gainer, while Laboratory Services Company, Union Diagnostic & Clinical Services Plc with a loss of -8.00 percent led the losers’ chart.
Oil marketing major, Oando Plc with a gain of +2.00 percent was the most actively traded with 30 million units of shares worth about N154 million.
In terms of sector performance, InvestmentOne reports that the Nigerian Stock Exchange (NSE) Consumer Goods index advanced by 1.37 percent, due to the gains in the shares of insurer, Consolidate Hallmark Insurance Plc and Flour Mills of Nigeria Plc; both gained +6.06 percent and +4.65 percent each, also, food and beverage producer and top tier brewer, Cadbury Nigeria Plc and Nigerian Breweries Plc appreciated +3.24 percent and +2.66 percent respectively.
Still on the positive side is the NSE Banking index which gained 0.38 percent, following the buy interest in the shares of Jaiz Bank Plc and FBN Holdings Plc; both surged +8.89 percent and +2.01 percent each, Access Bank Plc and Zenith Bank Plc; both appreciated +0.65 percent and +0.42 percent respectively.
On the flip-side, InvestmentOne reports that NSE Oil & Gas index closed down by 0.14 percent, on the back of the decline in the shares of Forte Oil Plc which depreciated -7.77 percent. While the NSE Industrial index remained flat.
“Despite the sell-off in the equities market in the previous quarter, we believe this presents decent entry opportunities in our quality names,” the InvestmentOne update added.
