By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks on Monday opened the week on a positive note as all-share index (ASI) climbed up 0.99 percent to close 34,781.46 points, while market capitalisation grew by N120.23billion to close at N11.82 trillion.
According to Cordros market update, the gains recorded on Monday was boosted by the performance of Banking and Oil/Gas stocks; resulting to current Year-to-Date (Y-t-D) returns on the Nigerian Stock Exchange (NSE) standing at a positive 0.36 percent.
Cordros reports that four (4) of the five (5) NSE Sectoral indices appreciated. “The Oil/Gas index topped the gainers’ list with a 3.48 percent surge, while the Banking and Consumer Goods indices followed with respective gains of 1.92 percent and 0.76 percent,” the report added.
The report further affirmed that the Insurance index recorded a minimal gain of 0.25 percent, while the Industrial Goods index was the sole loser with a 0.16 percent dip.
At the close of business on Monday, market breadth at the Nigerian bourse posted a positive outlook, recording 38 gainers and 18 losers; according to the NSE’s daily market statistics.
Skye Bank Plc topped the gainers chart with a gain of 0.21 kobo; while Trans Nationwide Express Nigeria Plc emerged top loser with a loss of 0.05 kobo.
In terms of turnover, volume traded on the Nigerian equities market grew by 64.96 percent to 305.71 million shares, valued at N2.98billion and traded in 4,674 deals.
“The gains are likely to persist as investors continue to take positions approaching the May 29 handover date,” Cordros report affirmed.
