By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s most capitalised quoted company, Dangote Cement Plc said on Monday its profit after tax (PAT) for the period ended March 31, 2016 dropped 23.52 percent to N52.77 billion from N68.62 billion recorded a year ago.

Similarly, profit before tax (PBT) dipped 22.85 percent to N54.53 billion from N70.16 billion posted the same period of 2015.

However, revenue of Dangote Cement grew to N140.52 billion in the Q1 period of 2016 from N114.73 billion declared in Q1 of 2015, the cement producer said in a filing with the Nigerian Stock Exchange (NSE).

Click here to view Dangote Cement Plc Condensed Consolidated and Separate Statement of Profit and Loss for the Period Ended March 31, 2016

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Tuesday rebounded on renewed bargain hunting as all-share index (ASI) climbed up 0.13 percent close at 24,659.17 points, while market capitalisation grew by N2.84 billion to N8.48 trillion.

“Today’s activities pared the Month-to-Date and Year-to-Date losses to 2.56 percent and 13.91 percent respectively,” Cordros daily market update affirmed.

This is coming on the heels of the start of the trading session which was delayed about two (2) hours today owing to due diligence checks by the NSE on its trading platform.

However, at the close of today’s session on the Nigerian equities market, the Banking and Insurance indices closed higher by 2.04 percent and 0.96 percent apiece, following gains in the shares of Nigeria’s top tier lender, Guaranty Trust Bank Plc 2.28 percent, financial HoldCo, FBN Holdings Plc 1.21 percent. On the part of the insurance sector, reinsurance firm, Continental Re-Insurance Plc climbed up 1.98 percent and Axa Mansard Insurance Plc gained 2.94 percent, according to the Cordros daily market update.

On the flipside, the report says that price declines in the shares of beermaker, Nigerian Breweries Plc and cement producer, Dangote Cement Plc by 1.91 percent and 0.02 percent each; led to the Consumer and Industrial Goods sectors dipping 0.91 percent and 0.04 percent respectively. While the Oil & Gas index closed in red 0.14 percent, following the drop recorded in the shares of oil marketing company, Oando Plc by 1.91 percent.

At the close of today’s trading on the Nigerian bourse, market breadth turned positive, with 22 gainers and 16 losers posted, the NSE daily market statistics said. Pan-African lender, Ecobank Transnational Incorporated (ETI) emerged the top gainer with a gain of 0.70 kobo per share; while UAC of Nigeria Plc topped the losers chart with a loss of 0.97 kobo per share to close the session.

In terms of turnover, total volume traded on the Nigerian equities market increased by 76.49 percent to 228.90 million shares, valued at N1.44 billion, and traded in 3,239 deals.

“Despite today’s gain being marginal, market breadth indicates renewed investor interest, which we expect to be sustained in tomorrow’s session,” the Cordros update added.

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian equities rebounded Thursday on resumed bargain hunting as all-share index (ASI) climbed up 0.44 percent to close at 24,746.16 points, while market capitalisation grew by N37.20 billion to N8.51 trillion.

“Today’s performance pared the Month-to-Date and Year-to-Date losses to 2.21 percent and 13.60 percent respectively, according to Cordros daily market update.

As bulls dominated the Nigerian Stock Exchange (NSE); halting a 5-day losing spree, Cordros reports that sentiments were positive across all sector indices.

It reported the Banking and Industrial Goods indices appreciated 1.36 percent and 0.57 percent each, benefitting from price increase in the shares of Nigeria’s top tier lenders, Guaranty Trust Bank Plc and Zenith Bank Plc by 2.49 percent and 1.82 percent apiece; while Nigeria’s most capitalised quoted company and cement producer, Dangote Cement Plc gained 0.16 percent, also Lafarge Wapco Cement Nigeria Plc increased by 1.32 percent.

Similarly, the Consumer Goods sector climbed up by 0.24 percent and boosted by the positive performance in the shares of beermaker, Nigerian Breweries Plc  0.45 percent and soap and detergent producer, Unilever Nigeria Plc moving up 1.04 percent.

In the same vein, Cordros reports that investor interest in shares of insurer, Axa Mansard Insurance Plc and Oando Plc appreciated 4.62 percent and 1.77 percent apiece, to push up the Insurance and Oil & Gas indices by 0.30 percent and 0.80 percent accordingly.

The update says at the close of today’s trading on the Nigerian bourse, market breadth turned positive, with 24 gainers and 18 losers posted, according to the NSE’s daily market statistics.

Agriculture / Agro-Allied firm, Okomu Oil Palm Company Plc emerged the top gainer with a gain of N3.30, while insurer, Law Union & Rock Insurance Plc topped the losers chart with a loss of 0.06 kobo per share.

In terms of turnover, total volume traded on the Nigerian equities market rose by 67.20 percent to 271.66 million shares valued at N1.61 billion and exchanged in 2,988 deals.

“Activities across board today indicate renewed investor sentiment, which we expect to be sustained in tomorrow’s session,’ the Cordros update added.

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