By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian equities on Thursday sustained a positive momentum as all-share index (ASI) inched up 0.15 percent to close at 25,923.77 basis points, while market capitalisation added N13.23 billion to N8.92 trillion.
“Today’s positive performance further increased the Month-to-Date gain to 5.51 percent and pared the Year-to-Date loss to 9.49 percent,” Cordros daily market update said.
According to Cordros, following positive sentiments across major sector indices, the Oil & Gas sector topped the gainers chart with a gain of 0.72 percent on the continuous rally in the shares of oil marketing major, Oando Plc by 9.46 percent.
In the same vein, the Industrial Goods, Insurance and Banking indices appreciated 0.24 percent, 0.16 percent and 0.04 percent apiece on the gains recorded in the shares of Nigeria’s most capitalised listed company and cement producer, Dangote Cement Plc, insurer, Axa Mansard Insurance Plc and financial Holdco, FBN Holdings Plc; all climbing up by 0.62 percent, 0.91 percent and 1.37 percent respectively.
Conversely, Cordros reported that the Consumer Goods index was the lone decliner by 0.52 percent; as beer producer, Nigerian Breweries Plc shed weight by the same margin of 0.52 percent.
At the close of business on the local bourse, market breadth remained positive with 19 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 0.22 kobo per share; while, leading conglomerate in several industries, AG Leventis Nigeria Plc topped the losers list with a loss of 0.04 kobo per share.
In terms of turnover, the Cordros update affirmed that total volume traded on the Nigerian equities market rose by 44.52 percent to 310.65 million shares valued at N2.06 billion and traded in 3,010 deals.
“While we acknowledge the fact that today’s gain came in marginal — the lowest so far this week — we remain positive that gains would continue in tomorrow’s session, as investors keep taking positions ahead of FY’2015 earnings releases,” the Cordros update added.
