By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE) – Sentiments on Monday remained positive on the Nigerian Bourse as the week commenced on a bullish note despite concerns of the outcome of the upcoming election.

At the end of today’s session, the Nigerian Stock Exchange all share index ((NSE ASI) gained marginally by 0.58 percent to close at 29,505.47 points, while market capitalisation increased by N57.14 billion to close at N9.85 trillion.

With the marginal gain, current Year-to-Date (Y-t-D) returns on the Nigerian equities market stands at a negative 14.86 percent compared to 15.36 percent reported last Friday.

Cordros daily market update reports that four (4) out of the five (5) NSE sectoral indices gained.  “The Industrial Goods index topped the gainers’ list with a 1.66 percent increase, while the Banking and Oil/Gas indices followed suit with 1.39 percent and 1.26 percent gains respectively,” the report affirmed.

Similarly, the Insurance index recorded a gain of 0.99 percent, whilst the Consumer Goods index was the sole loser with a 0.27 percent decline.  

Cordros said market breath at the Nigerian bourse closed on a positive note as 26 gainers and 19 losers were recorded. Reinsurer, Continental Reinsurance Plc emerged top gainer with gain of 0.04 kobo; while United Capital Plc (formerly UBA Capital Plc) led the losers chart with a loss of 0.27 kobo.

In terms of turnover, volume traded increased by 270.56% percent to 611.72 million shares, valued at N5.62billion and traded in 3,271 deals.

“Today’s gain is expected to be short-lived, as uncertainties around the general election weigh on investor sentiments,” the Cordros update affirmed.