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NSE: Activity revs up on renewed interest in industrial goods stocks

By Nkiruka Nnorom

Activity revved up by marginal 0.17 percent on the Nigerian Stock Exchange, NSE, Tuesday following renewed interest in industrial goods stocks by investors.

Specifically, the renewed interest in two of the industrial goods stocks – Lafarge Africa Plc and Dangote Cement Plc, resulted in reversal of the industrial goods sector to the positive region as it posted the highest return of 2.08 percent to lead other sectorial indices.

This also resulted in increase in the All Share Index, ASI, by 0.17 percent to 40,499.04 points from 40,429.18 points the previous day.

Lafarge Africa, which slumped by over nine percent yesterday following a not-too-good full year financial statement, rebounded by 3.41 percent to close at N42.40 from N41.00, while Dangote Cement Plc appreciated by 1.19 percent to close at N255.00 from N252.00 per share.

Other top gainers during day include Japaul Oil and Maritime Plc, which rose by 8.16 percent to close at N0.53 from N0.49. Mobil Oil Nigeria (11) Plc and Sterling Bank Plc appreciated by five percent each to close at N178.50 and N1.68 per share respectively.

International Breweries Plc was up 4.78 percent to close at N51.50 from N49.15, while Unity Bank Plc went up by 4.55 percent to close at N0.23 from N0.22 per share.

On the other hand, Wema Bank led the losers, dropping by 4.94 percent to close at N0.77 from N0.81, followed by Lasaco Assurance Plc, which fell by 4.88 percent to close at N0.39 from N0.41.

Jaiz Bank Plc depreciated by 4.62 percent to close at N0.62 from N0.65; Eterna Plc went down by 4.61 percent to close at N6.00 from N6.29, while C&I leasing Plc declined by 4.49 percent to close at N1.49 from N1.56 per share.


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