By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks on Monday gained 1.73 percent to extend its bullish streak to the seventh session.
According to reports from Cordros Capital, the Nigerian Stock Exchange (NSE) all share index (ASI) closed at 31,090.81 points, while market capitalisation increased by N178.22 billion to close at N10.50 trillion.
With the continued upward trajectory from last week on the Nigerian bourse, current market Year-to-Date (Y-t-D) returns stands at a negative 10.31 percent, while the Month-to-Date (M-t-D) gain grew to 3.15 percent, the Cordros report affirmed.
The report says four (4) out of the five (5) NSE Sectoral indices gained. “The Banking index topped the gainers’ list with a 2.76 percent increase, while the Industrial Goods and Insurance indices followed with 1.67 percent and 0.63 percent gains respectively,” the report added.
Similarly, the Consumer Goods index also recorded a marginal gain of 0.10 percent. On the contrary, the Oil/Gas index was the sole loser with a 0.24 percent decline.
Market breadth at the Nigerian equities market maintained its positive stance as it recorded 41 gainers and 11 losers, according to the NSE’s daily market statistics. World-Class Healthcare Solutions, Leading Pharmaceutical Company in Nigeria, Fidson Healthcare Plc emerged top gainer with a gain of 0.30 kobo, while foam makers, Vono Plc topped the losers chart with a loss of 0.08 kobo.
In terms of turnover, at the end of the session on the Nigerian bourse, volume traded declined by 62.88 percent to 196.26 million shares, valued at N1.84 billion and traded in 3,638 deals.
“We expect investors to trade cautiously in tomorrow’s session,” the Cordros update affirmed.
