By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Bulls on Monday appeared at the Nigerian Stock Exchange (NSE) as all-share index (ASI) gained 2.29 percent to close at 30,369.97 basis points, while market capitalisation grew by N234.01billion to N10.44 trillion.

This is coming on the heels of strong demand for the Consumer Goods stocks as today’s gain extended the Month-to-Date ((M-t-D) returns to a positive 2.31 percent and trimmed the Year-to-Date (Y-t-D) loss at 12.37 percent, according to Cordros daily market update.

The update says four (4) of the five (5) NSE sectoral indices gained and the Consumer Goods index increased 3.19 percent following gains in the shares of brewers Guinness Nigeria Plc by 10.24 percent, Nigerian Breweries Plc 5.31 percent and International Breweries Plc by five (5) percent.

“The Banking and Oil/Gas indices recorded respective gains of 2.97 percent and 2.48 percent, while the Industrial Goods index added 1.52 percent,” the Cordros report affirmed.

On the contrary, the Insurance index, the sole loser today, shed 0.93 percent following a 4.86 percent loss in the shares of AXA Mansard Insurance Plc.

At the close of today’s trading on the local bourse, market breadth sustained a positive outlook recording 42 gainers and 11 losers, according to the NSE’s daily market statistics.

Nigeria’s top tier brewer, Guinness emerged top gainer with a gain of N15.58 per share; while Greif Nigeria Plc topped the losers table with a loss of 0.51 kobo per share.

In terms of turnover, volume traded on the Nigerian equities market climbed up by 26.59 percent to N254.70 million shares, valued at N3.84 billion and traded in 3,798 deals.

“We expect the market to moderate gains in the coming session,’ the Cordros update added.