Earnings Expectation Lifts Equities By 1.4%

Earnings Expectation Lifts Equities By 1.4%
Oladejo Amos
The equity market started the week on a positive note on the Nigerian Stock Exchange on Monday despite the weak performance seen in the early part of the trading session which lasted till mid-day.  A late rally largely driven by investors’ interest in influential sectors such as the industrial goods and banking sectors helped end the trading in the green zone.
The All Share Index gained 1.41 per cent to close at 24,570.73 points, compared to the rise of 0.77 per cent to close at 24,228.79 points.
Market capitalization appreciated N117 billion to close at N8.452 trillion, compared to the increase of N64 billion recorded on Friday to close at N8.335 trillion.
Investment analysts at DLM Securities Limited noted that three of the sectoral indices ended the day in positive territory with cyclical sectors showing relative weakness.
“We are inclined to highlight that cautious guidance on equities and 2015 financial earnings remain strong,” the firm said.
Dangote Cement Plc led the gainers’ table with N6.75 or five per cent to close at N141.75 per share, followed by Eco Bank Plc with 79 kobo or 4.95 per cent to close at N16.75 per share.
Fidson Healthcare Plc added 12 kobo or 4.92 per cent to close at N2.56 per share, while Mobil Plc appreciated 6.97 or 4.65 per cent to close at N156.97 per share.
Tiger Brands Plc was up six kobo or 4.55 per cent to close at N1.38 per share.
Conversely, Wema Bank Plc shed seven kobo or 7.29 per cent to close at 89 kobo per share, while Oando Plc lost 23 kobo or 7.19 per cent to close at N2.97 per share.
Ikeja Hotel Plc depreciated 15 kobo or 4.97 per cent to close at N2.87 per share, while Conoil Plc declined 91 kobo or 4.96 per cent to close at N17.43 per share.
Dangote Sugar Plc was down 27 kobo or 4.91 per cent to close at N5.23 per share.
A total of 467.2 million shares valued at N1.489 billion were exchanged in 2,549 deals.
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