By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday
opened the week on a positive note as all-share index (ASI) gained 0.58 percent
to close at 23,963.64 basis points.
Similarly, market capitalisation increased by 47.16 billion
to N8.24 trillion, reducing the Month and Year-to-Date losses each to 16.33
percent, according to Cordros daily market update.
The report affirmed that two (2) of the five (5) sector indices recorded gains. The Banking and Oil & Gas indices led the gainers list with gains of 3.45 percent and 1.06 percent respectively; following growths in the shares of Nigeria’s top tier lender, Zenith Bank Plc by 7.79 percent and first
dual listed Nigerian oil and gas upstream firm, Seplat
Petroleum
Development Company Plc by 5.00 percent.
On the contrary, the Industrial Goods and Insurance sectors dipped by 0.54 percent and 0.27 percent according on the dismay performance recorded in the sharesof cementmanufacturer, Lafarge
Cement
WAPCO Nigeria Plc by 1.22 percent and insurer, AIICO Insurance Plc losing by 0.27 percent.
Similarly, the Consumer Goods index also declined as beer
maker, Nigerian Breweries dipped 4.81 percent.
According to Cordros, at the close of today’s session on the Nigerian bourse, market breadth was positive, with 25 gainers and 16 losers posted. Brewer, Guinness Nigeria Plc emerged the top gainer with a gain of N10.43 per share; while paint producer, Berger Paints Plc topped the losers chart with a loss of 0.96 kobo per share.
In terms of turnover, total volume traded decreased by 78.59
percent to close at 215.18 million shares, valued at N2.10 billion in 3,853
total deals.
“We expect gains to persist in the coming sessions as market breadth remains indicative of strong positive sentiments,” the Cordros update affirmed.
