By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Wednesday extended its gain as all-share index (ASI) climbed up 2.55 percent closed at 29,177.58 points, while market capitalisation increased by N241.90 billion to close at N9.74 trillion.
With this trend, current market Year-to-Date (Y-t-D) returns at the Nigerian Stock Exchange (NSE) stands at a negative 15.81 percent.
Cordros market update says all of the five (5) NSE Sectoral indices appreciated. “The Banking index remained on top of the gainers’ chart with a 4.82 percent surge, while Industrial Goods and Consumer Goods followed with an increase of 2.96 percent and 0.72 percent respectively,” the report added.
Similarly, the Insurance and Oil/Gas indices also gained by 0.32 percent and 0.18 percent respectively.
Market breadth at the Nigerian bourse ended on a positive note as 30 gainers and 11 losers were recorded. Nigeria’s top tier lender, Guaranty Trust Bank Plc emerged top gainer with a gain of N1.93; while beer maker, International Breweries Plc topped the losers chart with a loss of 0.97 kobo.
In terms of turnover, volume traded declined by 15.17 percent to 424.33 million shares, valued at N4.73 billion and traded in 4,731 deals.
“Bullish trading is expected to continue in tomorrow’s session,” the Cordros update affirmed.
