By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Bulls continued its dominance on Monday at the Nigerian Stock Exchange (NSE) as all-share index (ASI) gained 0.30 percent to close at 35,488.80 points, while market capitalisation added N35.69 billion to close at N11.75 trillion.
The positive dominance for the sixth consecutive sessions is coming on the heels of increased demand for Consumer Goods, Banking and Oil/Gas equities, according to a Cordros update.
Current Year-to-Date (YTD) returns at the Nigerian bourse stands at a negative 14.13 percent.
In terms of sectoral performance, four (4) out of the five (5) NSE sectoral indices closed on a positive note. The Consumer Goods index topped the gainers chart with a 0.81 percent growth, the Banking and Oil/Gas indices followed with 0.31 percent respectively, while the Insurance index gained 0.05 percent. However, the Industrial Goods sector depreciated 0.16 percent.
Similarly, market breadth ended on a positive note as the NSE recorded 24 gainers and 19 losers. Beer maker, Champion Breweries Plc led the gainers chart with a gain of 0.84 kobo, while Okomuoil Plc led the losers table with a loss of N1.48.
Turnover at the Nigerian bourse at the end of the session shows that volume traded declined by 56.11 percent to 198.86 million shares, valued at N2.34 billion and traded in 4,236.00 deals.
‘’We expect the bears to return tomorrow as a result of profit-taking activities,’’ the Cordros report affirmed.
