By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Tuesday closed on a bullish note as all-share index (ASI) gained 0.27 percent to close at 27,389.02 points.

This is coming on the heels of sustained interest in large cap stocks such as the shares of Nigeria’s top tier lenders, Zenith Bank Plc, Guaranty Trust Bank Plc and brewing giant, Nigerian Breweries Plc.

“Today’s performance further cut the Month-to-Date and Year-to-Date losses to 2.22 percent and 4.38 percent respectively,” Cordros daily market update affirmed.

At the close of trading on the Nigerian bourse, Cordros update reported that the Banking and Consumer Goods indices gained 0.90 percent and 0.37 percent each, on the back of price appreciations in the shares of ZENITHBANK, GTBank, NB and Cadbury Nigeria Plc by 1.67 percent, 1.78 percent, 1.11 percent and 0.71 percent respectively.

Similarly, the Oil & Gas and Insurance indices closed in green by 0.22 percent and 0.04 percent each, following gains recorded in the shares of Total Nigeria Plc and Continental Reinsurance Plc by 3.33 percent and 3.09 percent apiece, while the Industrial Goods index closed flat.

Market breadth remained negative, with 15 gainers and 18 losers declared, according to the daily market statistics made available by the NSE. Pioneer in the manufacturing of animal feed company in Nigeria, Livestock Feeds Plc emerged the top gainer with a gain of 0.05 kobo per share; while beermaker, Champion Breweries Plc topped the losers chart with a loss of 0.25 kobo per share to close the session.

In terms of turnover, total volume traded on the Nigerian Equities Market increased by 10.41 percent to 235.89 million shares, valued at N2.23 billion, and traded in 3,512 deals.

“We expect modest gains to continue in the coming session, given the prevailing bullish sentiments,” the Cordros update added.