By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday closed bullish to begin the week, as all-share index (ASI) climbed higher by 1.43 percent to close at 26,818.77 points, while market capitalisation grew by N129.99 billion to N9.23 trillion.

“Today’s performance extended the Month-to-Date gain to 7.03 percent and pared the Year-to-Date loss to 6.35 percent,” Cordros daily market update affirmed.

The update says the Banking, Insurance and Industrial Goods indices closed in green by 1.85 percent, 1.20 percent and 2.27 percent respectively, on the back of respective price increases in the shares of Nigeria’s top tier lenders, Guaranty Trust Bank Plc and Zenith Bank Plc by 2.41 percent and 2.24 percent each. Also, insurer, Axa Mansard Insurance Plc and reinsurer, Continental Reinsurance Plc gained 4.57 percent and 2.83 percent to boost the Insurance sector.

Cement producers, Lafarge Cement Wapco Nigeria Plc and Dangote Cement Plc lifted in Industrial Goods index with gains of 3.93 percent and 1.27 percent apiece.

Similarly, the Consumer Goods and Oil & Gas indices climbed up by 1.69 percent and 1.29 percent respectively on positive investor interest in the shares of beer producers, Nigerian Breweries Plc and Guinness Nigeria Plc by 4.28 percent and 5.00 percent, while oil marketers, Conoil Plc and Oando Plc gained 10.23 percent and 10.02 percent each.

At the close of the session, market breadth at the Nigerian bourse was positive, with 27 gainers and 24 losers posted, according to the NSE daily market statistics. Conoil emerged the top gainer with a gain of N1.95; while MRS Plc topped the losers chart with a loss of N3.94 to close the day.

In terms of turnover, total volume traded fell by 43.45 percent to 321.00 million shares, valued at N2.11 billion, and traded in 4,524 deals.

“We expect today’s gains to be sustained in the coming session, as investor appetite appears strengthened,” Cordros update affirmed.