By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Thursday halted five-days losing streak on the performance of blue-chip stocks, as the all-share index (ASI) climbed up 0.23 percent to close at 27,751.34 points, while market capitalisation rose by N21.82 billion to N9.53 trillion.
“Today’s performance decreased the Month-to-Date and Year-to-Date losses to 0.92 percent and 3.11 percent respectively,” Cordros daily market update affirmed.
According to the Cordros report, at the close of the session, the Oil &Gas and Consumer Goods indices gained 1.42 percent and 0.78 percent each, as the shares of oil marketing majors, Total Nigeria Plc and Mobil Nigeria Plc climbed up 8.06 percent and 5.00 percent accordingly; while beermakers, Nigerian Breweries Plc and Guinness Nigeria Plc gained by 1.85 percent and 1.07 percent respectively; attracting investors interest.
Following suit is the Industrial Goods index growing by 0.60 percent and driven by gains recorded by cement producer, Lafarge Cement Wapco Plc and cablemaker, Cutix Plc by 1.18 percent and 9.21 percent each.
On the flipside, the Insurance and Banking indices depreciated by 0.35 percent and 0.58 percent respectively, following declines in the shares of reinsurer, Continental Reinsurance Plc and lender, Guaranty Trust Bank Plc both declining 4.90 percent and 0.75 percent each.
At the close of the session on the Nigerian bourse, market breadth remained negative, with 14 gainers and 17 losers posted, according to the NSE’s daily market statistics. Cable producer, Cutix emerged the top gainer with a gain of 0.14 kobo; while insurer, AIICO Insurance Plc topped the losers chart with a loss of 0.05 kobo per share to close the session.
In terms of turnover, total volume traded on the Nigerian equities market decreased by 48.24 percent to 155.78 million shares, valued at N1.53 billion, and traded in 3,320 deals.
“We expect bullish sentiments to persist in tomorrow’s session, as sentiments appear strengthened,” the Cordros report added.
