Bulls Resurface on Nigerian Bourse, NSEASI Up +0.19% on Gains in Consumer, Oil & Gas Counters

December 11, 2019/InvestmentOne Report

The Nigerian equities market closed positive today as NSE-ASI gained by 0.19% to close at 26,434.00pts.

In today’s trade, market breadth index was marginally negative with 14 losers against 12 gainers.

CILEASING (+9.26%) led the gainers’ chart while CHELLARAM (-9.74%) was the top loser today.                                                                                                 

UBA (+3.85%) was the most actively traded stock with about 29million units of shares worth about N192.7million. 

Sector Performance 

·         NSE Consumer Goods Index: Inched up by 0.12%, on the back of the gains in FLOURMILL (+1.58%) and DANGSUGAR (+0.67%).

·         NSE Oil & Gas Index: Closed up by 0.46% on the back of buy interest in OANDO (+4.17%).

·         NSE Banking Index: Fell  by 0.39%, due to the losses in GUARANTY (-2.27%),  FBNH (-1.59%), STANBIC (-1.90%) and ZENITHBANK (-0.27%).

·         NSE Industrial Index: Closed flat.

The equities market closed up today as result of the gains recorded in Consumer and Oil & Gas sectors. We still maintain our view that investors should take positions in quality names with a medium to long time investment horizon as prices remain attractive at current levels.

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