Securities and Exchange Commission Mr Abdlrahaman Abubakar, Deputy Director, Investor Education Division SEC Mr Tunde Kamali and Director, Market Development Department SEC Mr Edward Okolo during an Educational Visit of PeaceChild International School Abuja, Government Day Secondary School Gwagwalada and Anmonic Kings and Queens International School, Nyanyan Gwadara Nasarawa State to SEC in Abuja yesterday
November 5, 2019
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Tuesday closed negative as the benchmark index NSE-ASI declined 0.10 percent to close at 26,375.35 basis points on losses recorded in the Consumer Goods and Industrial counters, according to InvestmentOne reports.
The report says however, market breadth index was positive with 17 gainers compared to 9 losers.
UACN Property Development Company Plc with a loss of -9.35 percent emerged the worst loser, while insurer, Law Union & Rock Insurance Plc with a gain of +9.52 percent led the gainer’s chart.
In terms of sector performance, the Nigerian Stock Exchange (NSE) Consumer Goods index dropped by 2.17 percent, due to the losses in reported in the shares of Honeywell Flour Mills Plc which dipped by -5.77 percent, food and beverage producer, Nestle Nigeria Plc also depreciated -4.16 percent, while brewer, Guinness Nigeria Plc declined by -2.13 percent.
On the flip-side, the NSE Banking index rose by 1.27 percent, as a result of the gains recorded in the shares of Unity Bank Plc and First City Monument Bank; both appreciated +9.52 percent and +6.87 percent respectively, while Jaiz Bank Plc and Stanbic IBTC gained +6.00 percent and +5.41 percent each. The NSE Industrial and Oil & Gas indices closed flat.
“The equities market closed negative today following the losses recorded in Consumer Goods and Industrial sectors. We maintain that investors should take positions in quality names with a medium to long time investment horizon as prices remain attractive at current levels,” the InvestmentOne update said.
