By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) all-share index (ASI) opened the week on a bullish note gaining 1.29 percent to close at 30,219.01 basis points, while market capitalisation increased by N132.25 billion to close at N10.39 trillion.
Cordros daily market update says the rise in today’s session eased the Month-to-Date (M-t-D) and Year-to-Date (Y-t-D) declines to 3.20 percent and 12.81 percent respectively.
This is coming on the heels of Friday’s close on the back of investor interest in the Industrial Goods sector.
According to the report, three (3) of the five (5) sectors gained in today’s session. It affirmed the Industrial Goods sector with an increase of 2.65 percent topped the sector gains courtesy of rallies in shares of cement maker, Dangote Cement Plc by 4.93 percent and Lafarge Cement WAPCO Nigeria Plc with 0.66 percent growth.
The report further affirmed the Banking and Oil and Gas sectors appreciated 0.39 percent and 0.26 percent on the gains in the shares of lender Access Bank Plc by 2.97 percent and Mobil Nigeria Plc with 0.66 percent
On the contrary, the Consumer Goods sector declined by 0.25 percent following sell-offs in the shares of brewery heavyweights Nigerian Breweries Plc and Guinness Nigeria Plc by 0.19 percent and 2.57 percent respectively.
Similarly, the Insurance sector dipped 0.09 percent following the performance of AIICO Insurance Plc depreciating by 2.22 percent.
At the close of trading on the Nigerian bourse, market breadth posted a negative outlook with 18 gainers and 20 losers, according to the NSE daily market statistics.
Dangote Cement Plc emerged top gainer with a gain of N7.94; while Logistics Company Trans-Nationwide Express Plc topped the losers chart with a loss of 0.08 kobo per share to close the day.
In terms of turnover, volume traded on the Nigerian equities market at the end of the session reduced by 70.77 percent to 104.46 million shares worth N1.93 billion in 2,929 deals.
“We expect positive sentiment experienced today’s session to be sustained in tomorrow’s session but we expect gains to be subdued in comparison to today’s session considering the negative market breadth,” the Cordros report added.
