By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)- Local equities continued to rally on sustained bargain hunting activities on the Banking and Consumer Goods sectors, as the  all-share index (ASI) on Monday climbed up by 0.49 percent to close at 25,828.30 points, while market capitalisation added N43.58 billion to N8.88 trillion.

”Today’s proceedings further increased the Month-to-Date gain to 3.06 percent and pared the Year-to-Date loss to 9.82 percent, according to Cordros daily market update.

The report says at the close of today’s trading on the Nigerian Stock Exchange (NSE) positive investor interests in the shares of Nigeria’s top tier lenders, Zenith Bank Plc and Guaranty Bank Plc gained 4.56 percent and 3.03 percent apiece to led the Banking index up by 2.08 percent.

Similarly, the Consumer Goods sector appreciated by 0.60 percent on price gains reported in the shares of beermaker, Nigerian Breweries Plc by 1.41 percent.

On the flipside, the Industrial Goods, Insurance and Oil & Gas indices plunged 0.06 percent, 1.03 percent and 0.37 percent respectively, owing to sell-offs in the shares of cement producers, Cement Company of Northern Nigeria Plc, insurer, Axa Mansard Insurance Plc and oil marketing firm, Total Nigeria Plc by 4.58 percent, 4.69 percent and 3.18 each.

Cordros reported that at the close of the session, market breadth was positive, with 29 gainers and 18 losers, according to the NSE’s daily market statistics.

Soap and detergent manufacturer, Unilever Nigeria Plc topped the gainers chart with a gain of N3.30 per share; while drugmaker GlaxoSmithKline Consumer Nigeria Plc emerged the top loser with a loss of N1.07 per share to close the session.

In terms of turnover, total volume traded on the Nigerian bourse jumped by 209.18 percent to 559.96 million shares, valued at N6.44 billion, and traded in 3,655 deals.

“We expect gains to be sustained in tomorrow’s session, as today’s activities indicate strengthened interest,” the Cordros update affirmed.

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By InvestAdvocate

Lagos (INVESTADVOCATE)-Soap and detergent producer, Unilever Nigeria Plc said on Friday its pre-tax profit for the first quarter (Q1) period ended March 31, 2016 increased to N1.42 billion from N864.7 million recorded a year ago.

Similarly, profit after tax grew to N1.04 billion from N590.4 million posted the same period of 2015.

Also, revenue of Unilever Nigeria for Q1 period increased 12.55 percent to N16.78 billion from N1491 billion declared the same period of 2015, the soapmaker said in a filing with the Nigerian Stock Exchange (NSE).

Click here to view Unilever Nigeria Plc Unaudited Interim Financial Statements For the Three Months ended 31 March 2016

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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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