By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian bourse on Monday opened the week on a positive note as all-share index (ASI) gained 0.56 percent to close at 24,827.50 basis points while market capitalisation increased by N47.40 billion to N8.54 trillion.
Cordros daily market update affirmed that today’s gain consequently increased the Month-to-Date (M-t-D) gain to 3.81 percent and decreasing the Year-to-Date (Y-t-D) loss to 13.32 percent.
The update says the Industrial Goods with an increase of 2.00 percent led the gainers chart following the positive performance in the shares of cement producer, Dangote Cement Plc appreciating by 3.75 percent and recording price increase.
According to Cordros, the Oil & Gas sector followed suit with a gain of 0.62 percent as first dual listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc climbed up with a gain of 3.65 percent.
On the contrary, the Consumer Goods index declined by 1.37 percent, topping the losers chart on the dismal performance in the shares of food and beverage producer, Nestle Nigeria Plc losing 3.60 percent.
Also, the Banking and Insurance indices dropped by 0.97 percent and 0.13 percent respectively; following losses in the shares of Zenith Bank Plc and reinsurer, Continental Reinsurance Plc by 4.92 percent and 2.00 percent each.
At the close of today’s trading on the Nigerian Stock Exchange (NSE), market breadth posted a negative outlook with 13 gainers and 25 losers, according to the NSE’s daily market statistics.
Vitafoam Nigeria Plc emerged top gainer with a gain of 0.40 kobo per share; while Tiger Branded Consumer Goods Plc topped the losers list with a loss of 0.06 kobo per share to close the session.
In terms of turnover, total volume traded on the Nigerian equities market decreased by 9.01 percent to close at 283.52 million shares, valued at N2.92 billion in 3,030 total deals.
“We however expect gains to persist in the coming session, as investors continue to position for dividends ahead of FY’15 earnings releases,” the Cordros update affirmed.
