By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday commenced the week on a bearish note as all-share index (ASI) declined 0.78 percent to close at 34,730.95 points, while market capitalisation decreased by N95.53 billion to close at N11.83 trillion.
With this trend, current Year-to-Date (Y-t-D) gain reduced only 0.21 percent on declines in shares of companies in the Industrial Goods sector.
Cordros report say two (2) out of the five (5) NSE Sectoral indices appreciated. “The Banking and Insurance indices were the gainers, as they rose by 0.37 percent and 0.28 percent respectively,” the report affirmed.
On the contrary, the Industrial Goods index dipprd the most by 1.30 percent, while the Consumer Goods and Oil/Gas indices followed with 0.40 percent and 0.16 percent losses respectively.
At the end of Monday’s session, market breadth at the Nigerian bourse had a positive outlook as 31 gainers and 25 losers were recorded. Salt maker, National Salt Company of Nigeria Plc emerged top gainer with a gain of 0.43 percent. While, construction giant, Costain West Africa Plc topped the losers chart with a loss of 0.05 kobo.
In terms of turnover, volume traded increased by 25.18 percent to 395.16 million shares, valued at N2.70 billion and traded in 4,498 deals.
“As the market seeks an upside catalyst, we expect cautious trading in subsequent sessions,” Cordros affirmed.
