February 5, 2019
By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market closed the second trading session of the week in green on gains across most sector, gaining +0.09 percent to close at 30,773.57 basis points compared to +0.35 percent gain recorded previously, as Year-to-Date (YTD) returns currently stands at a negative -2.09 percent.
InvestmentOne reports that market breadth index was positive with 21 gainers compared to 12 stocks that declined.
According to the update, Nigerian glass maker, Beta Glass Plc with a gain of +10.00 percent emerged the topmost gainer, while leading conglomerate in several industries, AG Leventis (Nigeria) Plc with a loss of -6.90 percent led the losers’ chart.
Top tier lender, Guaranty Trust Bank Plc with a gain of +0.74 percent was the most actively traded stock with about 49 million units of shares worth N1.67 billion.
In terms of sector performance, InvestmentOne reports that the Nigerian Stock Exchange (NSE) Oil & Gas index gained 0.39 percent, following the advancements in the shares of oil marketing major, Oando Plc and Eterna Plc, both appreciated +3.09 percent and +1.18 percent apiece.
Also, the NSE Industrial index closed up by 0.22 percent, largely driven by the buy interest in BETAGLAS which gained by +10.00 percent, while cablemaker, Cutix Plc rose by +2.63 percent.
In the same vein, the NSE Banking index rose by 0.21 percent, on the back of the gains in the shares of mid tier lender, Wema Bank Plc and Jaiz Bank Plc; both climbed up +2.99 percent and +2.04 percent each, Stanbic IBTC and Access Bank Plc grew +1.96 percent and +1.61 percent respectively and FBN Holdings Plc rose by +1.35 percent.
On the flip-side, the NSE Consumer Goods index shed 0.14 percent, majorly due to the losses in the shares of Dangote Sugar Refinery Plc and Honeywell Flour Mills Plc; both declined -3.23 percent and -2.44 percent apiece, while food and beverage producer, Nestle Nigeria Plc dipped by -0.01 percent.
“The equities market closed up today majorly due to the gains across most sectors. Despite the recent sell-off in the equities market, we believe this presents decent entry opportunities for investors with medium to long term horizon,” the InvestmentOne update added.
