By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Thursday recorded a four-day consecutive bullish session as all-share index (ASI) climbed up 2.19 percent to close at 24,664.89 basis points, while market capitalisation increased by N182.10 billion to N8.48 trillion.

Cordros daily market update says the trend increased the Month-to-Date (M-t-D) gain to 3.13 percent and cutting the Year-to-Date (Y-t-D) loss to 13.89 percent respectively.

According to the update, aside from the Insurance index dropping 1.26 percent; which closed lower on the back of a price decline in shares of insurer, AIICO Insurance Plc by 1.16 percent, all other sector indices closed in the green.

The report affirmed the Oil & Gas and Industrial Goods sectors appreciated by 4.29 percent and 2.34 percent following gains in shares of oil marketer, Forte Oil Plc by 8.67 percent and cement producer, Dangote Cement Plc by 6.63 percent respectively.

Similarly, share price increases in Nigeria’s top tier lender, Zenith Bank Plc by 2.44 percent and beer maker, Nigerian Breweries Plc by 1.02 percent saw the Banking and Consumer Goods indices gain marginally 0.09 percent and 0.23 percent each.

At the close of today’s session on the Nigerian bourse, market breadth posted a negative outlook, with 13 gainers and 21 losers, according to the NSE’s daily market statistics. Forte Oil emerged the top gainer with a gain of N26.00 per share; while drugmaker, GlaxoSmithKline Consumer Healthcare Plc topped the losers chart with a loss of N1.10 per share to close the day.

In terms of turnover, total volume traded on the Nigerian equities market expanded by 29.18 percent to 414.35 million shares valued at N3.29 billion in 3,380 deals.

“We remain optimistic about gains in the coming session, as market activities remain indicative of strong interest in large cap stocks,” the Cordros update affirmed.