By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigeria’ equities market on Tuesday extended its bullish profile as all- share index (ASI) gained 0.29 percent to close at 38,776.67 basis points, compared with the 1.22 appreciation recorded in yesterday’s session, while market capitalisation increased by N37.65 billion to close at N12.80 trillion.
Current year-to-date (YTD) returns at the Nigerian Stock Exchange (NSE) stands at a negative 6.18 percent.
Cordros Capital daily market update say the extended bullish profile of the Nigerian bourse is in response to demand activities witnessed across various sectors.
In terms of sectoral performance, the five (5) NSE sectoral indices recorded gains. The Oil/Gas index topped the chart with a 1.37 percent addition, the Insurance index followed with a 0.47 percent growth, while the Banking index rose by 0.38 percent.
Similarly, the Industrial and Consumer Goods indices also added 0.35 percent and 0.28 percent respectively.
In the same vein, market breadth at the Nigerian bourse remained positive with 33 gainers and 15 losers. Construction giant, Costain West Africa Plc led the gainers chart; while soap makers, Unilever Nigeria Plc led the losers chart.
Volume traded declined 0.25 percent to 352.91 million shares, valued at N3.82 billion and traded in 6,171 deals.
‘’Looking ahead, we maintain a cautiously optimistic stance, given the general bearish mood which could still lead to further exits,’’ the Cordros daily market update affirmed.
