December 11, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Most capitalised listed company on the Nigerian bourse and cement producer, Dangote Cement Plc on Tuesday drove Nigerian stocks up +0.34 percent to 30,718.72 points.
Cordros reports that the Month-to-Date and Year-to-Date losses tempered to 0.50 percent and 19.68 percent respectively.
Market breadth index was positive with 23 gainers compared to 16 stocks that declined.
Veritas Kapital Plc with a gain of +9.52 percent emerged the topmost gainer, while C & I Leasing Plc with a loss of -9.79 percent led the losers’ chart.
InvestmentOne update reports that top tier lender, Zenith Bank Plc with a gain of +0.43 percent was the most actively traded with about 58 million units of shares worth N1.35 billion.
In terms of sector performance, InvestmentOne reports the Nigerian Stock Exchange (NSE) Industrial index gained 0.66 percent, driven by the shares of cement manufacturers, Lafarge Cement Wapco Nigeria Plc and Dangote Cement Plc; both gained +1.63 percent and +0.71 percent each.
In the same vein, the NSE Consumer Goods index advanced by 0.58 percent, due to the gains in the shares of food and beverage producer, Cadbury Nigeria Plc and Flour Mills of Nigeria Plc; both surged +5.29 percent and +5.00 percent each, while soap and detergent maker, PZ Cussons Nigeria Plc and Dangote Sugar Refinery Plc appreciated +4.55 percent and +3.33 percent apiece.
According to InvestmentOne, the NSE Oil & Gas index closed up by 0.10 percent, following the buy interests in the shares of Japaul Oil & Maritime Plc and Forte Oil Plc; both gained +5.00 percent and +4.44 percent each.
On the flip-side, the NSE Banking index shed 0.09 percent on the back of the sell-offs in the shares of Diamond Bank Plc and Guaranty Trust Bank Plc; both declined -7.77 percent and -1.01 percent respectively, FBN Holdings Plc lost by -0.66 percent.
“The equities market closed up today following the gains across most sectors. 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.
