By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian stocks on Tuesday gained 1.18 percent as benchmark index climbed above 30,145.60 points for the first time since February 05 2015. While market capitalisation increased by N117.60 billion to close at N10.06 trillion.

With the bullish run, current Year-to-Date (Y-t-D) returns at the Nigerian Stock Exchange (NSE) stands at 13.02 percent from 20.41 percent in the review period.

Cordros market update reports that all of the five (5) NSE Sectoral indices gained. “The Banking index had the best performance for the second consecutive session with a 2.84 percent increase, while the Industrial Goods and Oil/Gas indices followed with a 1.21 percent and 0.79 percent gain respectively,” the report added.

Similarly, the Consumer Goods and Insurance indices grew 0.56 percent and 0.38 percent respectively.

The report says market breadth improved as 35 gainers and 11 losers were recorded surpassing the previous session of 26 gainers and 15 losers. Chemical and Allied Products Plc (CAP) emerged the top gainer with a gain of N3.68, while Okomu Oil Palm Plc topped the losers chart with a loss of N1.77.

In terms of turnover, volume traded at the Nigerian bourse decreased by 9.55 percent to 277.36 million shares, valued at N3.79 billion and traded in 4,401 deals.

“The seven consecutive gaining sessions have left the market vulnerable to profit taking activities as uncertainties still remain” the Cordros update affirmed.