By InvestAdvocate
Lagos (INVESTADVOCATE)-Bulls on Tuesday sustained its rally on the Nigerian equities market as all-share index (ASI) gained 1.02 percent to close at 30,358.87 basis points, while market capitalisation grew by N105.46 billion to N10.44 trillion.
Today’s rally was boosted by the shares of lender, Zenith Bank Plc 8.84 percent, construction giant, Julius Berger Plc 3.57 percent and beer maker, Nigerian Breweries Plc by 2.24 percent amongst others, according to Cordros daily market update.
With this trend, current market Month-to-Date (M-t-D) returns on the Nigerian Stock Exchange (NSE) gained 2.27 percent, while the Year-to-Date (Y-t-D) returns stands at a negative 12.40 percent, the report affirmed.
According to Cordros, once again, all (5) five NSE sectoral indices recorded gains. It reported that the Banking index topped the gainers’ chart with a 2.52 percent increase, following gains in the shares of lenders ZENITHBANK 8.84 percent, Fidelity Bank Plc 4.14 percent and Union Bank of Nigeria Plc by 4.07 percent.
Similarly, the Consumer Goods and Industrial Goods indices followed suit with 0.75 percent and 0.40 percent gains respectively.
On the contrary, losses in the shares of insurer Custody and Allied Insurance Plc 4.53 percent and oil marketer, Conoil Plc by 9.72 percent weighed respectively on the Insurance and Oil/Gas indices which recorded growth of 0.39 percent and 0.14 percent respectively.
At the close of business on the Nigerian bourse, market breadth maintained a positive outlook; recording 36 gainers and 17 losers.
Financial and investment services power house, United Capital Plc emerged the top gainer with a gain of 0.14 kobo per share. While Conoil topped the losers chart with a loss of N2.92 per share.
In terms of turnover, volume traded on the Nigerian equities market climbed up by 5.44 percent to N226.65 million shares, valued at N2 billion and traded in 4,531 deals.
“We expect the current market rally to come to a halt in subsequent sessions,’ Cordros update affirmed.
