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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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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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian stocks on Tuesday shed a marginal 0.42 percent to extend a seven-day bearish streak as all–share index (ASI) closed at 22,456.32 points.

At the close of trading on the Nigerian Stock Exchange (NSE) market capitalisation dipped by N32.5 billion to N7.72 trillion, bringing the Month and Year-to-Date losses each to 21.60 percent, according to Cordros daily market update.

The report says three (3) of the five (5) NSE sector indices gained. It said the Industrial Goods and Banking indices led the gainers chart with gains of 0.82 percent and 0.54 percent respectively; following price increases in the shares of cement producer, Lafarge Cement WAPCO Nigeria Plc and Nigeria’s top tier lender, Zenith Bank Plc ; both gaining 2.17 percent and 6.11 percent respectively.

According to Cordros, the Insurance index also strengthened marginally 0.31 percent on the back of gains recorded in the shares of insurers NEM Insurance Plc and Continental Re-Insurance Plc by 8.62 percent and 4.35 percent respectively.

On the contrary, the Consumer Goods and Oil & Gas indices declined 2.23 percent and 1.70 percent according dragged by losses reported in the shares of beverage maker, Cadbury Nigeria Plc and brewer, Guinness Nigeria Plc going down by 5.06 percent and 9.61 percent respectively; while first listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc and Mobile Nigeria Plc dipped by 5.00 percent respectively.

The NSE closed business on Tuesday with market breadth sustaining a slightly negative posture, posting 24 gainers and 27 losers. Beer maker, International Breweries Plc emerged the top gainer with a gain of N1.40 kobo per share; while Okomu Oil Palm Company Plc topped the losers chart with a loss of N3.02 kobo per share.

In terms of turnover, total volume traded on the local bourse increased by 30.66 percent to close at 256.44 million shares, valued at N1.97 billion, in 4,731 total deals.

“In addition to the significant improvement in market breadth (as stated above), the market lost by its smallest margin in 8 days, signifying a rebound in market sentiments. We expect optimism to increase tomorrow, especially as Brent crude posted its strongest daily gains in four months,” the Cordros update affirmed.

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