By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Nigeria’s equities appreciated on Monday as all-share index (ASI) climbed up 0.71 percent to close 34,115.84 points while market capitalisation grew N79.43 billion to N11.26 trillion.
Cordros report say the equities market closed to the upside at the end of the session, mirroring the price gains that were also recorded in the fixed income and money markets.
“The gain was recorded on the back of appreciation in the shares of a number of high-capped stocks,” the report affirmed.
Current Year-to-Date (YTD) returns at the Nigerian bourse stands at a negative 17.47 percent.
According to the Cordros update, the Banking index topped the gainers chart with a 2.06 percent growth. The Oil/Gas and Consumers Goods indices followed with a 1.72 percent and 0.57 percent increase respectively.
The report affirmed that on the order hand, the Insurance index lost 0.53 percent percent followed by Industrial Goods index which dipped by 0.03 percent.
At the close of business at the NSE, market breadth was positive as it recorded 37 gainers and 11 losers. Soap makers PZ Cussons Nigeria Plc led the gainers chart with N2.20 and Ilesha based brewers emerged top on the losers table as it lost N1.40.
In terms of turnover, the NSE reported at the end of transactions that volume traded declined 34.55 percent to 357.77 million shares, valued at N4.37 billion and traded in 4,666 deals.
“Today’s gain would be short-lived in light of the recent developments in the monetary policy environment,” the Cordros update said.
