L-R: Kolawole Ayeye, CEO GDL; Tinuade Awe, Executive Director, Regulations, NSE; Dr Nadu Denloye, Chairman, GDL; Rev. Christiana Bamidele George, Director, GDL; Bayo Omole, Legal Counsel to GDL; Peter Shodipo, Group Head Risk Management and Compliance, GDL, at the listing of GDL Money Market Fund at The Exchange in Lagos.
18/12/2018/InvestmentOne Update
The Nigerian equities market closed the second trading session of the week positive, as NSE-ASI gained 0.70%.
Similarly, market breadth index was positive with 25 gainers against 11 stocks that declined.
NEIMETH (+10.00%) was the top gainer today while ACCESS (-5.52%) led the losers’ chart.
ZENITHBANK was the most actively traded with about 102million units of shares worth N2.34billion.
Sector Performance
· NSE Industrial Index: Closed up by 1.63%, on the back of the gains in CCNN (+9.91%) and DANGCEM (+2.16%).
· NSE Oil & Gas Index : Gained 1.50%, due to the advancement in FO (+9.91%) and MOBIL (+8.56%).
· NSE Banking Index: Grew by 0.48%, driven by the improvements in DIAMONDBNK (+9.62%), WEMABANK (+9.26%), UNITYBNK (+8.70%), FCMB (+5.42%) and FBNH (+3.45%).
· NSE Consumer Goods Index: Shed 0.91% following the sell-offs in UNILEVER (-2.76%) and GUINNESS (-1.37%).
Market Insight
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.
