December 21, 2018
By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Friday tanked -0.09 percent to close at 30,773.68 basis points erasing the previous session’s gain of +0.32 percent; as Week-to-Date (WTD) returns went up by 0.30 percent.
InvestmentOne reports that market breadth index was positive with 29 gainers compared to 14 stocks that declined at the end of the session’s trading.
According to the report, 11 Plc (former Mobil Nigeria Plc) with a gain of +10.00 percent emerged the topmost gainer, while Veritas Kapital Plc with a loss of -8.00 percent led the losers’ chart.
Top tier lender, Guaranty Trust Bank Plc; with a loss of -2.59 percent was the most actively traded with about 30 million units of shares worth N1.01 billion.
In terms of sector performance, InvestmentOne reports the Nigerian Stock Exchange (NSE) Banking index shed 0.54 percent, following the losses in the shares of Access Bank Plc and First City Monument Bank; both declined -4.73 percent and -4.62 percent apiece, while Guaranty Trust Bank Plc lost by -2.59 percent.
On the positive side, the NSE Oil & Gas index gained 1.82 percent, on the back of the advancements in the shares of 11 Plc and Forte Oil Plc; both appreciated +10.00 percent and +9.63 percent each, Total Nigeria Plc gained by +4.17 percent.
Still on the positive side, the NSE Consumer Goods index closed up by 0.90 percent, due to the gains in the shares of Honeywell Flour Mills Plc and Champion Breweries Plc; both gained +6.84 percent and +3.77 percent respectively, Nigerian Breweries Plc and PZ Cussons Nigeria Plc appreciated +2.56 percent and +1.90 percent apiece, while Nestle Nigeria Plc climbed up by +0.69 percent.
In the same vein, InvestmentOne reports the NSE Industrial index grew by 0.30 percent, majorly driven by the buy interest in the shares of cement producer, Lafarge Cement Wapco Nigeria Plc which gained by +7.23 percent.
“The equities market closed down today following the losses in Banking names. 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.
