February 25, 2019
By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Monday closed the first trading session of the week in green as the all-share index (ASI) gained 0.57 percent to close at 32,700.12 basis points on gains across most sectors, as Year-to-Date (YTD) returns currently stands at +4.04 percent.
InvestmentOne report says that market breadth index was positive with 25 gainers compared to 8 stocks that declined.
According to the report, Dangote Flour Mills Plc with a gain of +9.95 percent emerged the topmost gainer, while Laboratory Services Company, Union Diagnostic & Clinical Services Plc with a loss of -6.45 percent led the losers’ chart.
Beer producer, Nigerian Breweries Plc with a gain of +4.00 percent was the most actively traded stock with about 43 million units of shares worth N3.55 billion.
In terms of sector performance, the Nigerian Stock Exchange (NSE) Consumer Goods index advanced 1.26 percent, largely driven by the rise in the shares of Dangote Flour Mills Plc and Nigerian Breweries Plc; both gained +9.95 percent and +4.00 percent each, while sugar refiner, Dangote Sugar Refinery Plc gained by +3.33 percent.
In the same vein, the NSE Banking index rose by 0.85 percent, following the buy interests in the shares of Wema Bank Plc and Union Bank of Nigeria Plc; both appreciated +8.33 percent and +5.07 percent apiece, while First City Monument Bank and Africa’s global lender, United Bank for rose +4.95 percent and +2.50 percent each.
The NSE Oil & Gas index gained 0.05 percent, on the back of the advancements in the shares of Japaul Oil & Maritime Plc and oil marketing majors, Oando Plc and 11 Plc former (Mobil Nigeria Plc), all gained +8.00 percent, +1.54 percent and +1.12 percent respectively.
The NSE Industrial index closed up by 0.02 percent, majorly due to the buy interests in shares of Nigeria’s most capitalised listed company and cement manufacturer, Dangote Cement Plc which inched up by +0.05 percent.
“The equities market closed up today majorly due to the gains across all 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 affirmed.
