By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Wednesday sustained its bullish run for the third consecutive day as all-share index (ASI) climbed up 3.10 percent to close at 31,403.75 basis points, while market capitalisation gained N323.87 billion to close at N10.76 trillion.

This is coming on the heels of demands on blue chip stocks recording its highest appreciation since 02 April.

The performance on stocks such as brewer, Nigerian Breweries Plc, conglomerate Transnational Corporation of Nigeria Plc, lender, Zenith Bank Plc and Cement producer, Dangote Cement Plc.

Others are the shares of brewer, Guinness Nigeria Plc, oil marketers Forte Oil Plc and Oando Plc led to market Year-to-Date (Y-t-D) returns to a negative  to 9.39 percent,  while the Month-to-Date (M-t-D) gain appreciated to 4.05 percent, according to Cordros daily market update.

The Cordros report says all five (5) NSE sectoral indices recorded increases as the Industrial index emerged the best performer with a 3.21 percent gain. “The Banking and Consumer Goods indices followed with respective gains of 2.90 percent and 2.88 percent,” the report added.

Similarly, the Oil/Gas index grew by 2.37 percent, while the Insurance index also improved by 1.77 percent.

At the close of Wednesday’s session on the Nigerian bourse, market breadth remained positive with 36 gainers and 17 losers recorded the NSE daily market statistics affirmed.

Fast Consumer Moving Goods (FCMGs) firm, Flour Mills of Nigeria Plc emerged top gainer with a gain of N2.98 per share; while Northern Nigeria Flour Mills Plc topped the losers chart with a loss of 0.73 kobo per share.

At the end of today’s trading on the Nigerian bourse, volume traded declined by 49.70 percent to 336.16 million shares, valued at N3.04 billion and traded in 4,243 deals.

“We expect profit taking activities in tomorrow’s session,” the Cordros update affirmed.