November 9, 2018
By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Friday closed the last trading session negative, losing 0.09 percent to close at 32,200.21 basis points; as Week-to-Date (WTD) performance advanced by 0.23 percent, while Year-to-Date (YTD) returns currently stands at -15.80 percent.
InvestmentOne reports that market breadth index was somewhat flat with 18 gainers compared 19 stocks that declined.
According to the update, generator set and Almarine boat firm, John Holt Plc with a gain of +10.00 percent emerged the topmost gainer, while soap and detergent producer, PZ Cussons Nigeria Plc with a loss of -10.00 percent led the losers’ chart.
Tier one lender, Access Bank Plc with a loss of -1.91 percent was the most actively traded with 16 million units of shares worth about N131 million.
In terms of sector performance, InvestmentOne reports that Nigerian Stock Exchange (NSE) Industrial index closed down by 1.07 percent, largely driven by the losses in the shares of Lafarge Cement Wapco Nigeria Plc and Cement Company of Northern Nigeria Plc; both declined -4.46 percent and -1.92 percent each.
In the same vein, the NSE Banking index lost 0.65 percent, following the losses in the shares of Union Bank of Nigeria Plc and First City Monument Bank Limited; both lost -8.49 percent and -3.55 percent respectively, while Access Bank Plc and FBN Holdings Plc dipped -1.91 percent and -1.32 percent apiece.
On the positive side, the NSE Oil & Gas index closed up by 1.60 percent, on the back of the gains in the shares of first dual listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc which appreciated by +4.78 percent.
Still positive is the NSE Consumer Goods index which advanced by 0.11 percent, majorly due to the buy interest in the shares of Flour Mills Nigeria Plc and Nestle Nigeria Plc; both gained +0.98 percent and +0.69 percent each, while top tier brewer, Nigerian Breweries Plc appreciated by +0.49 percent.
“The equities market closed down today due to losses in Banking and Industrial names. Despite the sell-off in the equities market in the previous quarter, we believe this presents decent entry opportunities in our quality names,” the InvestmentOne update said.