The NSE witnessed a reversal in the upward trend seen at the last trading session, as the benchmark index lost 78bps to close at 34,730.95bps with 4,491 deals. All sub-sectors monitored by the exchange showed mixed performance. NSEBNK and NSEINS added gains on the back of ACCESS (3.77%), ETI (1.95%), Wapic (3.92%) and Royalex (3.85%) while NSECNSM, NSEIND and OILGS closed in negative terrain on the backdrop of Dangflour (-4.95%), Unilever (-4.10%), GUINNESS (-1.18%), and FO (-2.08%)
ASI year-to-date Figure struggles to remain positive at 0.39%. Market capitalization lost N94bn to close at 11.834Tril. At the close of today’s session, 32 stocks advanced relative to 22 decliners while 44 remained unchanged. Top in the gainers’ chart are NASCON (N8.92) FLOURMILL (N35.70) ASHAKACEM (N21.02) while FIDELITYBK (N1.94) COSTAIN (N0.95) TOTAL (N171.00) led the losers’ chart.
Dangote Sugar released its FY 2014 result for the year ended 31st Dec. 2014. Revenue (N94.855b) and PAT (N1.635b) declined by 8.16% and 12.03% respectively from prior period. The company proposes a 40kobo dividend payment
We believe that the current sentiment among investors, there is limited downward potential in stock prices. Source: CSL Securities