By InvestAdvocate
Lagos (INVESTADVOCATE)-The bulls on Tuesday returned to the Nigerian Stock Exchange (NSE) as the all-share index (ASI) closed at 24,823.86 points, while market capitalisation grew by N20.21 billion to N8.54 trillion.
“Today’s gain pared the Month-to-Date and Year-to-Date losses to 1.91 percent and 13.33 percent respectively, the Cordros daily market update reported.
According to the report at the close of the day’s trading on the Nigerian bourse, the Banking sector gained 0.91 percent, driven by a price appreciation in the shares of FBN Holdings Plc by 2.42 percent, which released its much awaited 2015 full year result.
In the same vein, the Consumer Goods, Insurance and Oil & Gas indices climbed up by 0.18 percent. 1.14 percent and 0.33 percent each; following price appreciations in the shares of beermaker, Nigerian Breweries Plc, insurer, AIICO Insurance Plc and Oando Plc by 0.41 percent, 1.32 percent and 4.12 percent apiece.
On the flipside, the Industrial Goods sector declined by 0.02 percent, following a 0.02 percent loss recorded in the shares of Nigeria’s most capitalised quoted company and cement producer, Dangote Cement Plc.
At the close of the session on the domestic bourse, market breadth turned positive, with 22 gainers and seven (7) losers, according to the NSE’s daily market statistics. Cable manufacturer, Cutix Plc emerged the top gainer with a gain of 0.11 kobo per share; while paintmaker, Berger Paints Plc topped the losers chart with a loss of 0.46 kobo per share.
In terms of turnover, total volume traded on the Nigerian Equities Market climbed by 46.64 percent to 212.15 million shares, worth N1.50 billion, and traded in 3,240 deals.
“We expect gains to be sustained in tomorrow’s session, as today’s performance suggests renewed investor interest,” the Cordros update added.
