By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks on Thursday sustained its four-day bullish streak despite poor results from blue-chip companies like cement producer Dangote Cement Plc, oil company Total Nigeria Plc and Africa’s top tier lender United Bank for Africa Plc.
At the end of today’s session, all-share index (ASI) gained 0.61 percent to close at 30, 0073.10 points, while market capitalisation grew by N61.13 billion to N10.04 trillion.
With this gain, the week’s rally has put the current Year-to-Date (Y-t-D) returns on the Nigerian Stock Exchange (NSE) to 13.23 percent.
Cordros market update reported that three (3) of the five (5) NSE sector indices recorded growth. “The Consumer Goods Index topped the gainers’ chart with a 2.25 percent increase, the Oil/Gas index followed with a 2.02 percent increase, while the Banking index added 0.97 percent,” the report affirmed.
On the contrary, the Insurance and Industrial indices declined by 0.39 percent and 0.36 percent respectively.
At the close business on the Nigerian bourse market breadth sustained its positive outlook with 26 gainers and 19 losers. Soap maker, Unilever Nigeria Plc emerged top gainer with a gain of N3.48, while Africa’s top tier lender UBA topped the losers table with a loss of 0.20.
In terms of turnover, reports from the NSE say volume traded increased by 66.78 percent to 723.63 million shares valued at N7.19 billion and traded in 4,531 deals.
