By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Bulls on Tuesday resurfaced on the Nigerian Stock Exchange (NSE) to halt five (5) days consecutive losses.
At the close of business today, all-share index (ASI) inched up 0.43 percent to close at 34,298.64 points, while market capitalisation grew by N49.89 billion to close at N11.65 trillion.
With today’s gain, current market Year-to-Date (Y-t-D) returns on the Nigerian bourse stands at a negative 1.03 percent.
Cordros daily market update reported that four (4) out of the five (5) NSE Sectoral indices gained. “The Oil/Gas index had best performance with a 0.68 percent increase, while the Industrial Goods and Banking indices followed with 0.45 percent and 0.37 percent gains respectively,” the report affirmed.
According to Cordros, the Insurance index increased by a marginal 0.04 percent, while the Consumers Goods index emerged the sole loser; declining by 0.46 percent.
At the close of transactions on the NSE, market breadth returned to a positive outlook recording 26 gainers and 18 losers.
Again, foam maker, Vono Products Plc emerged top gainer with a gain of 0.13 kobo per share, while drugmaker, May & Baker Nigeria Plc topped the losers chart with a loss of 0.09 kobo per share.
In terms of turnover, volume traded on the Nigerian equities market at the close of today’s business increased by 145.20 percent to 540.61 million shares, valued at N3.68 billion and traded in 3,662 deals.
“We expect cautious trading to continue, even with today’s gain,’ the Cordros report affirmed.
