By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Monday gained 0.30 percent to halt a six (6) day losing streak as the Nigerian Stock Exchange all-share index (NSE ASI) closed at 30,234.72 basis points, compared with the a decline of 0.91 percent recorded the previous session.
Similarly, market capitalisation appreciated N30.36 billion to N10.01trillion; thus with this gain, current Year-to-Date (YTD) returns at the Nigerian stock market stands at a negative 12.76 percent.
In terms of sectoral performance, only two out of the five NSE Sectoral indices appreciated, according to a Cordros update. The Industrial Goods index topped the gainers’ chart with a 2.33 percent increase while the Oil/Gas index followed with a 1.83 percent gain. On the other hand, the Banking and Consumer Goods indices dipped by 1.93 percent and 1.91 percent respectively, while the Insurance index declined by 0.84 percent.
Market breadth closed negatively as the NSE recorded 18 gainers and 24 losers were recorded. First listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc, topped the gainers table with a gain of N15.00. Construction giant, Julius Berger Plc emerged top loser with a loss of N5.07.
The Nigerian equities market in terms of turnover, also closed on a Negative note as volume traded went southwards by 27.55 percent to 327.45 million shares, valued at N3.61billion and traded in 4,530 deals.
‘’We believe the gains would be short-lived as market participants remain sensitive to events in the macro-economy and polity,’’ the Cordros report affirmed.
