By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Tuesday kicked-off the week on a positive note after the Id-el-Fitr celebrations as all-share index (ASI) gained 0.29 percent to close at 31,334.79 basis points, while market capitalisation increased by N105.98 billion to close at N10.73 trillion.
Cordros daily market update says that today’s gains were witnessed across various stocks such as oil marketer Oando Plc, 10.24 percent, conglomerate, Transnational Corporation of Nigeria Plc 9.91 percent and lenders, First City Monument Bank 5.26 percent and Access Bank Plc with a gain of 3.38 percent.
With the session’s performance current market Year-to-Date (Y-t-D) returns stands at a negative 9.59 percent.
The Cordros report affirmed that three (3) of the five (5) NSE Sectoral indices gained. “The Oil/Gas index recorded the best performance with a 2.93 percent surge, while the Consumer and Industrial Goods indices followed with 1.06 percent and 0.70 percent respective increases,” the report added.
On the contrary, the Insurance index dipped the most by 1.48 percent, while the Banking indices declined by 0.20 percent, the Cordros update said.
At the close of the day’s business on the Nigerian bourse, market breadth posted a positive outlook, recording 28 gainers and 20 losers, the NSE’s daily market statistics affirmed. Oil marketing firm, Oando Plc led the gainers chart with a gain of N1.29 per share, while Trans-Nationwide Express Plc emerged top loser with a loss of 0.10 kobo per share.
In terms of turnover, volume traded on the Nigerian equities market grew by 375.22 percent to 1,056.03 billion shares, valued at N15.78 billion and traded in 3,472 deals.
“We expect bullish sentiments to persist in tomorrow’s session,” the Cordros update affirmed.
