Stocks Closes Green, Reports -0.17% Week-to-Date Loss

12/4/2019/InvestmentOne report

The Nigerian equities market closed the final trading session of the week in green, gaining 0.73%. However, WTD, the market closed down by 0.17%.

Market breadth index was largely positive with 28 gainers against 7 losers. 

MEYER (+9.26%) led the gainers’ chart while IKEJAHOTEL (-9.73%) was the top loser today.  

SOVRENINS was the most actively traded stock with about 47million units of shares worth N11million. 

Sector Performance

·         NSE Banking Index: Gained 0.97%, majorly driven by UNITYBNK (+8.22%), ACCESS (+3.48%), GUARANTY (+2.34%), WEMABANK (+1.43%) and UBA (+0.78%)  

·         NSE Industrial Index: Closed up by 0.77%, following the gain in DANGCEM (+1.61%). 

·         NSE Oil & Gas Index: Advanced by 0.64%, on the back of the buy interests in MOBIL (+4.04%), ETERNA (+2.50%) and OANDO (+1.03%).  

·         NSE Consumer Goods Index: Rose by 0.61%, largely due to the improvements in DANGFLOUR (+5.00%), HONYFLOUR (+3.48%), UNILEVER (+2.94%), FLOURMILL (+1.51%) and DANGSUGAR (+1.11%)

Market Insight 

The equities market closed up today following the gains across all sectors. Despite the recent sell-off in the equities market, we believe prices at current level presents decent entry opportunities for investors with medium to long term horizon.


Leave a Comment

Your email address will not be published. Required fields are marked *