By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian equities market on Monday ended a 10 day-decline as all-share index (ASI) gained 1.22 percent to close at 38,662.65basis points, compared with 0.76% depreciation recorded previously. While the market capitaliSation also increased by N153.52 billion to close at N12.77 trillion.

This is the biggest gain so far since May 30,  Nigerian equities have fallen 10 percent since touching a six-year high on July 16. Its Year-to-Date (YTD) returns currently stands at -6.45%.

Four (4) out of the five (5) sectoral index appreciated. The Banking index topped the gainers chart with a 2.13 percent return,  while the  Industrial Goods index, Oil/Gas index and Insurance index followed with a 2.13 percent, 1.72 percent and 0.41 percent increase respectively. However, the Consumer Goods index depreciated marginally by 0.17 percent.

Market breadth at the end of transactions today on the Nigerian bourse recorded 35 gainers and 19 losers. Ikeja Hotel Plc led the gainers chart; while cable maker, Cutix Plc was on top of the losers chart; an improved record when compared with the previous session.

In terms of turnover, the Nigerian bourse closed negative as volume dipped to a negative of 2.42 percent compared with a negative 30.84 percent decline reported in the past session. Volume traded declined by 2.42 percent to N353.80 million shares, worth N4.15 billion and traded in 5,221 deals.

Shares of top tier lender Guaranty Trust Bank Plc, Transnational Corporation of Nigeria Plc, United Bank for Africa Plc emerged the most active stocks to boost market turnover, while Guaranty Trust Bank again and Zenith Bank topped market value list with shares worth N1.349 billion and N434.251 million respectively.

”We expect today’s return to filter into tomorrow’s trading session, given the current fallen share prices,” Cordros daily market update said.