By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian stocks on Thursday extended its gain for the third consecutive day as all-share index (ASI) climbed up 0.50 percent to close at 24,909.88 points, while market capitalisation rose by N42.97 billion to N8.57 trillion.

“Today’s performance further pared the Month-to-Date and Year-to-Date losses to 1.57 percent and 13.03 percent respectively,” the Cordros daily market update affirmed.

The update says investors were broadly bullish across major sectors. The Banking and Insurance sectors grew 1.47 percent and 0.63 percent apiece benefitting from price appreciations in the shares of Nigeria’s top tier lender, Zenith Bank Plc, financial HoldCo, FBN Holdings Plc by 2.80 percent and 0.30 percent each. While insurers, AIICO Insurance Plc and Axa Mansard Insurance Plc gained by 4.17 percent and 2.86 percent respectively.

In the same vein, the Consumer and industrial Goods indices appreciated 0.66 percent and 0.04 percent each following respective gains recorded in the shares of beermaker, Nigerian Breweries Plc by 1.82 percent and cement producer, Cement Company of Northern Nigeria Plc by 4.96 percent.

Similarly, Cordros reported that positive investor interest in the shares of oil marketing firm, Oando Plc and Mobil Nigeria Plc by 4.65 percent and 3.36 percent, also, first Nigerian dual listed oil and gas upstream firm, Seplat Petroleum Development Company Plc gained 0.30 percent equally led to the Oil & Gas index to close in green by 0.71 percent.

At the close of trading on the Nigerian bourse, market breadth remained positive, with 26 gainers and 17 losers posted, according to the Nigerian Stock Exchange (NSE) daily market statistics. Tiger Branded Consumer Goods Plc emerged the top gainer with a gain of 0.26 kobo per share; while primary mortgage firm, Union Homes Savings & Loans Plc topped the losers chart with a loss of 0.41 kobo per share.

In terms of turnover, total volume traded climbed by 12.26 percent to 178.78 million shares, worth N1.18 billion, and traded in 3,223 deals.

“Despite persisting macroeconomic challenges, we expect current sentiments to persist in tomorrow’s session, as investor confidence appears strengthened,” the Cordros update added.

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By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian equities market on Wednesday remained bearish closing slightly lower 0.01 percent on lackluster investment activities, according to Cowry Asset research.

At the close of today’s trading on the domestic bourse, all-share index (ASI) closed at 24,637.91 points, while market capitalisation eased by N541.22 million to N8.47 trillion.

“Today’s activities increased the Month-to-Date and Year-to-Date losses to 2.64 percent and 13.98 percent respectively, Cordros daily market update affirmed.

The update says the Insurance and Consumer Goods indices shed weight 0.65 percent and 0.45 percent apiece, owing to losses in the shares of insurer, AIICO Insurance Plc and food and beverage producer, Nestle Nigeria Plc by 4.00 percent and 4.44 percent respectively.

In the same vein, the Oil & Gas and Industrial Goods sectors declined 0.17 percent and 0.13 percent apiece on the back of respective sell-offs in the shares of oil marketing major, Mobil Nigeria Plc and Cutix Plc by 7.40 percent and 4.93 percent each.

On the positive side, the Banking index however bucked the negative trend with a gain of 0.85 percent, as investors remained upbeat about the shares of Nigeria’s top tier lenders, Guaranty Trust Bank Plc, Zenith Bank Plc and financial HoldCo FBN Holdings Plc all gained 4.36 percent, 0.92 percent and 0.29 percent respectively.

Cordros reports that at the close of today’s transaction on the Nigerian Stock Exchange (NSE), market breadth turned negative, with 16 gainers and 20 losers posted, according to the NSE’s daily market statistics.

Oando Plc topped the gainers chart with a gain of 0.26 kobo per share; while Mobil emerged the highest loser with a loss of N11.99 per share to close the session

In terms of turnover, total volume traded on the Nigerian equities market fell by 97.66 percent to 162.47 million shares worth N1.02 billion and traded in 3,079 deals.

“With today’s loss being marginal (and indicative of improved investor appetite), we expect the bulls to dominate in tomorrow’s session,” the Cordros update added.

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian Equities on Thursday rebounded 0.64 percent on bargain hunting activities as the all-share index (ASI) closed at 25,306.22 points, while market capitalisation rose by N55.36 billion to N8.70 trillion.

“Today’s activities increase the Month-to-Date gain to 2.99 percent and cut the Year-to-Date loss to 11.65 percent,” according to Cordros daily market update.

According to the update, gains in the shares of cement producer, Dangote Cement Plc and SevenUp Bottling Company Plc by 2.29 percent and 1.31 percent apiece boosted the Industrial and Consumer Goods indices by 0.35 percent and 0.25 percent accordingly.

Similarly, the report says the Insurance and Oil and Gas sectors closed higher by 0.35 percent and 0.19 percent respectively, as reinsurer, Continental Reinsurance Plc and oil marketing firm, Mobil Nigeria Plc climbed up 3.45 percent and 3.84 percent each.

On the flip side, the Banking sector emerged the lone loser with a loss of 0.83 percent, following price declines in the shares of Nigeria’s top tier lenders, Zenith Bank Plc and Guaranty Trust Bank Plc by 1.92 percent and 1.24 percent respectively.

At the close of Thursday’s session on the Nigerian bourse, market breadth turned positive, with 23 gainers and 18 losers declared, according to the Nigerian Stock Exchange (NSE) daily market statistics.

Construction giant, Julius Berger Nigeria Plc emerged the top gainer with a gain of N3.30 per share; while Okomu Oil Palm Company Plc topped the losers chart with a loss of N1.57 per share.

In terms of turnover, total volume traded dropped by 47.63 percent to 264.04 million shares worth N1.94 billion and traded in 3,298 deals.

“With today’s market breadth being indicative of positive sentiments, we opine that gains will be sustained in tomorrow’s session,” the Cordros update affirmed.

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