By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Tuesday posted its fourth consecutive gains as the all share index (ASI) climbed up by 1.09 percent to close at 24,838.31 basis points, while market capitalisation rose by N92.05 billion to N8.54 trillion.
“Today’s gain brought the Month-to-Date gain to 1.09 percent and further reduced the Year-to-Date loss to 13.28 percent, according to Cordros daily market update.
The report said today’s gain is coming on the heels of a rally in the shares of Nigeria’s most capitalised listed company and cement producer, Dangote Cement Plc following positive investor reaction to its FY’15 earnings release today.
According to the Cordros update, the Industrial Goods, Banking and Consumer Goods sectors of the Nigerian bourse grew by 1.15 percent, 1.10 percent and 0.24 percent respectively from price appreciations in shares of Dangote Cement 4.99 percent, Nigeria’s tier one lender, Zenith Bank Plc 0.09 percent and beer producer, Nigerian Breweries Plc 0.51 percent respectively.
On the contrary, 9.75 percent and 2.50 percent losses in the shares of oil marketer, Forte Oil Plc and insurer, AIICO Insurance Plc respectively dragged the Oil & Gas and Insurance indices lower by 4.39 percent and 0.76 percent each.
At the close of today’s session on the local bourse, market breadth turned positive, with 20 gainers and 15 losers posted, according to the NSE’s daily market statistics.
Tiger Branded Consumer Goods Plc emerged the top gainer with a gain of 0.13 kobo per share, while Forte Oil topped the losers chart with a loss of N33.34 per share to close the session.
In terms of turnover, total volume traded on the Nigerian equities market at the close of the session slumped by 65.81 percent to 159.74 million shares valued at N1.10 billion and traded in 3,080 deals.
“Corporate Release(s): DANGCEM released its FY’2015 earnings result, wherein it declared a 13.7 percent increase in PAT and an EPS of N10.90. We expect gains to continue in tomorrow’s session,” the Cordros update added.
