By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday commenced the week on a positive note as all-share index (ASI) climbed up by 0.81 percent to close 25,902.95 points. While market capitalisation rose by N71.60 billion to N8.91 trillion.
This is coming on the heels of positive interests in key Financial Services and Industrial Goods counters, increasing the Month-to-Date gain to 5.42 percent and paring the Year-to-Date loss to 9.56 percent, according to Cordros daily market update.
The report says the Banking and Insurance indices closed the day up by 2.04 percent and 0.26 percent respectively on the back of gains recorded in the shares of Nigeria’s tier one lender, Zenith Bank Plc and insurer, AIICO Insurance Plc by 3.13 percent and 3.85 percent apiece.
In the same vein, the Industrial Goods appreciated by 1.76 percent on the positive performance of cement producer and most capitalised company on the Nigerian bourse, Dangote Cement Plc going up by 1.82 percent.
On the contrary, Cordros reported that price declines in shares of beermaker, Nigerian Breweries Plc and oil marketing major, Mobil Nigeria Plc by 0.95 percent and five (5) percent apiece; led to losses in the Consumer Goods and Oil & Gas sectors by 0.75 percent and 0.61 percent accordingly.
At the close of today’s trading on the local bourse, market breadth posted a negative outlook, with 16 gainers and 22 losers declared.
Financial services and investment firm United Capital Plc emerged the top gainer with a gain of 0.16 kobo per share ; while Mobil topped the losers list with a loss of N8.55 kobo per share.
In terms of turnover, total volume traded at the close of today’s business increased by 85.59 percent to 412.47 million shares worth N2.07 billion and traded in 3,285 deals.
“We expect gains to continue in tomorrow’s session, as today’s activities reflect renewed investors’ interest,” the Cordros update affirmed.
