February 20, 2019
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Friday closed the trading session in green, appreciating 0.64 percent on gains across sectors to 32,614.06basis points compared to +0.67 percent appreciation recorded previously, as Year-to-Date (YTD) returns currently stands at a positive +3.77 percent.
InvestmentOne daily market update reports that market breadth index was positive with 26 gainers compared to 16 stocks that declined.
According to the report, top tier brewer, Nigerian Breweries Plc with a gain of +10.00 percent emerged the topmost gainer, while insurer, Goldlink Insurance Plc with a loss of -9.43 percent led the losers’ chart.
Lender, Sterling Bank Plc with a loss of +4.60 percent was the most actively traded stock with about 106 million units of shares worth N254 million.
In terms of sector performance, InvestmentOne reports the Nigerian Stock Exchange (NSE) Consumer Goods index closed up by 1.43 percent, largely driven by the gains the shares of Nigerian Breweries Plc and Dangote Flour Mills Plc; both appreciated +10.00 percent and +5.29 percent apiece, while Guinness Nigeria Plc inched up by +0.15 percent.
The NSE Oil & Gas index advanced by 0.99 percent, following the improvements in the shares of oil marketing major, Oando Plc and Eterna Plc; both climbed up +5.88 percent and +5.49 percent each.
In the same vein, the NSE Banking index gained 0.81 percent, majorly due to the buy interests in the shares of Wema Bank Plc and Sterling Bank Plc which gained +5.95 percent, and +4.60 percent respecxtively, while Zenith Bank Plc and FBN Holdings Plc rose +1.78 percent and +1.23 percent respectively.
On the flip-side, InvestmentOne reports the NSE Industrial index closed down by 0.02 percent, on the back of the loss in the shares of Nigeria’s most capitalised listed compant and cement manufacturer, Dangote Cement Plc which declined by -0.05 percent.
“The equities market closed up today following the gains across most sectors. Despite the recent recovery in the equities market, we believe prices are still at decent levels for investors with medium to long term horizon,” the InvestmentOne update added.
