By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian equities market on Wednesday recorded its biggest gain of the present market rally since February 02, 2014 as all share index (ASI) inched up two (2) percent to close at 30,617.96 points, while market capitalisation grew by N199.72 billion to close at N10.20 trillion.

With this upward trajectory, current Year-To-Date (Y-t-D) returns at the Nigerian Stock Exchange (NSE) stands at a negative 11.65 percent.

A Cordros market update say four (4) out of the five (5) NSE Sectoral indices gained; according to the report. The Banking index topped the gainers’ chart for the second consecutive session with a 4.52 percent gain; while the Industrial and Consumer Goods indices followed by 1.62 percent and 0.91 percent increase respectively.

Similarly, the Insurance index also grew by 0.08 percent, while the Oil/Gas was the only loser with a 0.48 percent decline.

In the same vein, market breadth at the Nigerian bourse closed on a positive note with 29 gainers and 15 losers. Lender, Diamond Bank Plc emerged top gainer with a gain of 0.36 kobo, while oil marketing firm Conoil Plc topped the losers table with a loss of N3.53.

Turnover shows that volume traded increased by 17.45 percent to 466.05 million shares, valued at N 4,751 billion and traded in 4,880 deals.

“Bullish trend is expected to continue tomorrow as investors are likely to key into attractively priced stocks,” the Cordros update affirmed.