InvestmentOne update reports that market breadth index was negative with 13 gainers compared to 18 losers.

According to the report, Chemical and Allied Products Plc with a gain of +10.00 percent emerged the topmost gainer, while insurer, Regency Alliance Insurance Co Plc with a loss of -7.69 percent led the losers’ chart.

Lender, Diamond Bank Plc with a gain of +2.89 percent was the most actively traded stock with about 113 million units of shares worth N283 million.

In terms of sector performance, the Nigerian Stock Exchange (NSE) Consumer Goods index closed up by 1.60 percent, driven by the gains in the shares of food and beverage maker, Nestle Nigeria Plc which gained by +4.72 percent.

In the same vein, the NSE Banking index gained 0.04 percent, following the buy interest in the shares of lenders, Sterling Bank Plc and Diamond Bank Plc; both appreciated  +9.77 percent and +2.89 percent apiece, FBN Holding Plc and Guaranty Trust Bank Plc; both climbed up +1.22 percent and +0.56 percent each.

On the flip-side the NSE Industrial index shed 0.35 percent, on the back of the losses in the shares of most capitalised listed company on the Nigerian bourse and cement manufacturer, Dangote Cement Plc which declined by -1.03 percent. While the NSE Oil & Gas index closed flat.

“The equities market closed up today following the gains in some Banking and Consumer names. Despite the recent recovery in the equities market, we believe prices are still at decent levels for investors with medium to long term horizon. Furthermore, with the conclusion of the 2019 elections, we expect uncertainties associated with political risk to dwindle. This may improve investor sentiment towards the Nigerian equities market,” the InvestmentOne report added.