InvestmentOne report says market breadth index was somewhat flat with 19 gainers compared to 18 stocks that declined.

According to the update, Veritas Kapital Plc with a gain of +10.00 percent emerged the topmost gainer, while cement producer, Cement Company of Northern Nigeria Plc with a loss of -9.72 percent led the losers’ chart.

FBN Holdings Plc with a gain of +1.32 percent was the most actively traded with 90 million units of shares worth about N690 million.

In terms of sector performance, the Nigerian Stock Exchange (NSE) Industrial index advanced by 0.85 percent due to the gains recorded in the shares of Nigeria’s most capitalised listed company and cement manufacturer, Dangote Cement Plc by +2.70 percent.

On the flip-side, the report says the NSE Banking index declined by 1.02 percent, driven by the losses in the shares of First City Monument Bank Limited and United Bank for Africa Plc by -3.85 percent and -3.13 percent each, Guaranty Trust Bank Plc and Access Bank Plc; both declined -1.81 percent and -0.66 percent apiece, while Zenith Bank Plc dropped by -0.62 percent.

In the same vein, the NSE Oil & Gas index shed 0.61 percent, on the back of the sell-offs in the shares of first dual listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc which lost by -2.46 percent.

Also, the NSE Consumer Goods index lost 0.18 percent, following the declines in the shares of United Africa Company of Nigeria Plc and beer producer, International Breweries Plc; both declined -5.00 percent and -4.23 percent each, Honeywell Flour Mills Plc depreciated by -3.64 percent.

“The equities market closed up today due to the gain in the Industrial sector. 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.