By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Bears on Wednesday returned to the Nigerian Equities Market as all-share index (ASI) declined 0.06 percent to close at 24,809.29 points, while market capitalisation dropped by N5.01 billion to N8.53 trillion.

“Today’s loss increased the Month-to-Date and Year-to-Date losses to 1.96 percent and 13.38 percent respectively,” according to Cordros daily market update.

The report says at the close of today’s session, the Oil & Gas index depreciated 2.11 percent owing to losses recorded in the shares of oil marketing firms, Forte Oil Plc by five (5) percent and Total Nigeria Plc by 4.72 percent.

In the same vein, the Insurance, Consumer and Industrial Goods sectors dipped 0.07 percent, 0.02 percent and 0.01 percent apiece, driven by sell-offs in the shares of insurer,  AIICO Insurance Plc, beermaker, Nigerian Breweries Plc and Dangote Cement Plc by 1.30 percent, 0.43 percent and 0.01 percent each.

Cordros reports that bucking the trend, the Banking index gained by 0.44 percent boosted by a strong rally in the shares of financial HoldCo, FBN Holdings Plc by 5.31 percent.

At the close of the session’s trading, market breadth posted a negative outlook with 19 gainers and 22 losers, according to the Nigerian Stock Exchange (NSE) daily market statistics. FBNH emerged the top gainer with a gain of 0.18 kobo; while drugmaker, GlaxosmithKline Consumer Nigeria Plc topped the losers chart with a loss of N2.42 per share to close the day.

In terms of turnover, total volume traded on the Nigerian Equities Market increased by 34.50 percent to 285.34 million shares, valued at N1.35 billion, and traded in 3,083 deals.

“We expect investor appetite to be strengthened in tomorrow’s session, as today’s loss came in marginal,” the Cordros update added.

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian equities on Monday reeled under sustained losses as it opened the week on a bearish note, closing 0.34 percent lower on investment declines.

At the close of the day’s session, the all share index (ASI) closed at 24,765.10 points, while market capitalisation dropped by N29.24 billion to N8.52 trillion.

“Today’s loss further increased the Month-to-Date and Year-to-Date losses to 2.14 percent and 13.54 percent respectively,” Cordros daily market update affirmed.

According to the report, sell-offs in the shares of oil marketing firms, Forte Oil Plc and Oando Plc led to declines by 9.13 percent and 1.13 percent, causing the Oil & Gas index to loss 4.19 percent.

In the same vein, declines recorded in the shares of insurer, AIICO Insurance Plc and reinsurer, Continental Reinsurance Plc by 2.56 percent and 1.96 percent apiece led to the Insurance sector closing in red by 1.54 percent.

On the contrary, the Banking, Consumer and Industrial Goods indices gained 0.25 percent, 0.15 percent and 0.04 percent respectively, following price appreciations in the shares of Nigeria’s top tier lender, Guaranty Trust Bank Plc by 1.13 percent, beermaker, Nigerian Breweries Plc 0.37 percent and cement producer, Cement Company of Northern Nigeria Plc gaining 4.93 percent each.

The Cordros update reports that at the close of the session on the Nigerian Stock Exchange (NSE), market breadth posted a negative outlook with 15 gainers and 25 losers, according to the NSE’s daily market statistics. Educational publishing firm, Learn Africa Plc emerged the top gainer with a gain of 0.04 kobo per share; while Forte Oil topped the losers table with a loss of N25.12 per share.

In terms of turnover, total volume traded on the Nigerian Bourse dipped by 23.34 percent to 144.68 million shares, worth N766.02 million, and traded in 2,729 deals.

“We expect the bulls to resurface in tomorrow’s session, as we await the release of additional Q1-2016 earnings results,” the Cordros report added.

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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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