By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Tuesday closed in green as the all-share index (ASI) rose 0.42 percent on the back of the Banking and Consumer Goods indices to close at 25,454.75 points, while market capitalisation added N36.35 billion to N8.76 trillion.
“Today’s positive performance increased the ASI’s Month-to-Date gain to 0.59 percent and pared the Year-to-Date loss to 11.13 percent, according to Cordros daily market update.
The update says that the Banking index closed positive by 0.36 percent on the back of gains recorded in the shares of Nigeria’s top tier lenders, Zenith Bank Plc and Guaranty Trust Bank Plc by 1.10 percent and 0.79 percent apiece.
Similarly, the Consumer Goods sector closed higher 1.45 percent, following the positive performance in the shares of beermaker, Nigerian Breweries Plc by 3.88 percent which attracted investors’ interest, the Cordros report noted.
On the flip side, price declines recorded in the shares of insurer, Axa Mansard Insurance Plc by 3.21 percent, oil marketer, Oando Plc 4.44 percent and cement producer, Cement Company of Northern Nigeria Plc by 4.87 percent, saw the Insurance, Oil and Gas and the Industrial Goods indices close in the red 0.67 percent, 0.31 percent and 0.06 percent apiece.
At the close of today’s trading on the Nigerian bourse, market breadth posted a negative outlook, with 16 gainers and 18 losers recorded in equities, the Nigerian Stock Exchange (NSE) daily market statistics said.
Electronic transaction switching and payment processing firm, eTranzact International Plc emerged the top gainer with a gain of 0.14 kobo per share; while Paint producer, Portland Paints and Products Nigeria Plc topped the losers chart with a loss of 0.16 kobo per share to close the session.
In terms of turnover, total volume traded on the Nigerian equities market eased by 26.92 percent to 177.35 million shares valued at N1.01 billion and traded in 3,304 deals, the Cordros report added.
“Today’s activities — particularly the improvement in market breadth — indicate renewed investors’ interest, which we expect to be sustained in tomorrow’s session,” the update affirmed.
