By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday commenced the week on a bullish note as all-share index (ASI) gained 2.02 percent to close at 23,977.10 basis points, while market capitalisation increased by N163.44 billion to N8.25 trillion.
This is coming on the heels of last minute rallies in blue-chip companies; especially cement producer, Dangote Cement Plc with a growth of 7.80 percent and translating to a Month-to-Date gain of 0.25 percent and a Year-to-Date loss of 16.29 percent respectively, according to Cordros daily market update.
The update says two (2) of the five (5) sector indices gained. The Industrial and Banking indices climbed up 3.83 percent and 0.08 percent each to positive after prices appreciations in DANGCEM by 7.80 percent and Nigeria’s top tier lender, Guaranty Trust Bank Plc by 1.56 percent.
On the contrary, the Consumer Goods and Insurance indices dipped 0.01 percent and 0.38 percent accordingly; following the share declines in brewer, Guinness Nigeria Plc 2.32 percent and reinsurer, Continental Reinsurance Plc losing by 2.00 percent.
Similarly, Cordros reported that a loss in oil marketer, Conoil Plc by 9.36 percent dragged the Oil & Gas sector 0.03 percent lower.
At the close of today’s session on the Nigerian bourse, market breadth posted a negative outlook with 17 gainers and 22 losers, according to the NSE’s daily market statistics. DANGCEM emerged the top gainer with a gain of N9.70 per share; while Conoil topped the losers chart with a loss of 2.09 per share.
In terms of turnover, total volume traded decreased by 65.67 percent to stand at 190.39 million shares valued at N1.70 billion in 2,748 deals.
“We expect today’s gains to spur investors’ appetite in the coming session,” the Cordros update affirmed.
