By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market opened the week on a bullish note extending a two (2) gaining streak. All share index (ASI) and market capitalisation climbed up 2.54 percent to close at 29,773.40 basis points and N245.98 billion to close at N9.92trillion respectively.
With this gain, current Year-to-Date (YTD) returns at the Nigerian Stock Exchange (NSE) stands at a negative 14.09 percent.
“The market maintained an upward trajectory, as the benchmark advanced further from Friday’s session,” a Cordros update affirmed.
According to the Cordros report, all of the five (5) NSE Sectoral indices gained for the first time this year. “The Banking index recorded the biggest gain having risen by 5.13 percent, while the Consumers Goods and Industrial Goods indices followed with a 2.90 percent gains each,” the report added.
Similarly, the Oil/Gas and Insurance indices also appreciated by 0.63 percent and 0.39 percent respectively.
In terms of market breadth, the Nigerian bourse closed on a positive note, recording with 32 gainers and 15 losers. Volume traded increased by 63.12% to 426.25million shares valued at N3.43billion and traded in 4,391 deals.
Guaranty trust Bank Plc led the gainers chart with a gain of N1.78 kobo; while publishers of materials for educational and for general UPL emerged top losers with a loss of 0.41 kobo.
“The present market rally is likely to continue in tomorrow session, as investors await the outcome of the ongoing MPC meeting,” the Cordros report affirmed.
