28.2 C
Thursday, March 30, 2023

Nigerian Stocks Gain 0.79% Led by GTB, Nigerian Breweries

Must read

- Advertisement -
- Advertisement -

The Nigerian equities market closed up today as the Nigerian Stock Exchange (NSE) All Share Index (ASI) gained 0.79 percent to close at 25,987.14 points.

Similarly, in today’s trade, the market breadth index was positive with 25 gainers against 7 losers.

Nigerian Breweries (+10.00%) led the gainer’s chart today, while Ardova (-9.65%) was the top loser.

Sterling Bank (+0.87%) was the most actively traded stock with about 72 million units of shares worth about N83 million.

The NSE Consumer Goods Index rose by 2.09 percent, as a result of the gains in NB (+10.00%), Flour Mills (+6.82%), and Dangote Sugar (+2.88%).

The NSE Banking Index increased by 1.59 percent, due to the uptrend in Access Bank (+3.97%), ETI (+2.50%) Guaranty Trust Bank (+1.96%) and FBNH (+1.00%).

NSE Industrial Index advanced by 0.89 percent, due to the positive sentiment in Lafarge Africa (+1.54%) and Dangote Cement (+0.89%).

The NSE Oil and Gas Index, declined by 0.18 percent, as a result of the sell-offs in ARDOVA (-9.65%).

“While we believe the risk-off sentiment on the back of weak oil price, as well as the impact of the Coronavirus, could continue to weigh in on the equities market, we opine that this may be one of the best periods to start picking some of the quality names with a medium to long term investment horizon,” Investment One analysts said.


- Advertisement -
- Advertisement -

More articles


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Latest article