Nigerian Stocks Close New Year Eve in Green, Losses 17.81% in 2018

L-R: Lilian Idowu Adeleke – Program Officer at Pearls Africa, Debola Ibikunle – Mentor at Pearls Africa, Jumoke Fajemirokun – Member of the Advisory Board of Pearls Africa, Nwala Lady Joy from GirlsCoding, Bola Adeeko- Divisional Head, Shared Services, Nigerian Stock Exchange, Abisoye Ajayi-Akinfolarin Founder Pearls Africa, Mariam Matti from GirlsCoding, Odunayo Ajayi from GirlsCoding, Nosirat Alade from GirlsCoding, Oghale Otokunefor – Mentor at Pearls Africa, Bakenne Mariam – Facilitator from GirlsCoding, Jemimah Olisah – Facilitator from GirlsCoding-Photo Credit-NSE

31/12/2018/InvestmentOne Report

The Nigerian equities market closed the last trading session of the year in the green, gaining 1.27%. However, the market lost 17.81% in 2018.

Similarly, market breadth index was positive with 32 gainers against 17 stocks that declined.  

VITAFOAM (+10.00%) was the top gainer today while STANBIC (-9.95%) led the losers’ chart.

UNIONDAC (-7.41%) was the most actively traded with about 267million units of shares worth N67million. 

Sector Performance

·         NSE Oil & Gas Index: Closed up by 3.73%, due to the gains in SEPLAT (+8.02%), JAPAULOIL (+5.00%), TOTAL (+3.57%) and OANDO (+2.04%). 

·         NSE Consumer Goods Index: Rose by 1.42%, following the buy interest in CHAMPION (+9.94%), FLOURMILL (+5.24%), NB (+4.27%) and NESTLE (+0.34%). 

·         NSE Industrial Index: Gained 0.62%, majorly driven by the rise in DANGCEM (+3.66%). 

·         NSE Banking Index: Advanced by 0.30%, on the back of the gains  DIAMONDBNK (+9.55%), UNITYBNK (+9.18%), FBNH (+5.30%), WEMABANK (+3.28%) and STERLNBANK (2.70%). 

Market Insight 

The equities market closed up today following the gains across all sectors. Despite the sell-off in the equities market in 2018, we believe this presents decent entry opportunities in our quality names.


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