By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Wednesday sustained its bullish momentum as the all=share index (ASI) gained 0.18 percent to close at 27,437.25 points.

“Today’s proceedings trimmed the Month-to-Date and Year-to-Date losses to 2.04 percent and 4.21 percent respectively,” Cordros daily market update affirmed.

At the close of the session, Cordros reports that the Banking and Oil & Gas indices climbed up 0.74 percent and 0.17 percent respectively to close in green and driven by positive interest in the shares of Nigeria’s top tier lender, Guaranty Trust Bank Plc which gained 1.67 percent with its half year earnings which came in better-than-expected. Also, financial HoldCo, FBN Holdings Plc added 0.32 percent.

While oil marketing major, Total Nigeria Plc and Eterna Plc appreciated by 1.21 percent and 4.17 percent each.

Similarly, Cordros reports that price appreciations in the shares of cement producer, Lafarge Cement Wapco Plc and reinsurer, Continental Reinsurance Plc by 0.55 percent and 3.00 percent apiece, buoyed the Industrial Goods and Insurance indices by 0.11 percent and 0.32 percent each.

On the flipside, the Consumer Goods index lost 0.03 percent, owing to losses recorded in the shares of fast consumer moving goods (FCMG) firm, Honeywell Flour Mills Plc and soap and detergent maker, PZ Cussons Nigeria Plc by 1.49 percent and 0.28 percent respectively.

Cordros reports that market breadth at close of the session’s trading on the local bourse remained positive with 21 gainers and 16 losers declared, according to the NSE’s daily market statistics.

Pan-African lender, Ecobank Transnational Incorporated (ETI) emerged the top gainer with a gain of 0.92 kobo per share; while cement producer, Cement Company of Northern Nigeria Plc (CCNN) topped the losers list with a loss of 0.59 kobo per share to close the session.

In terms of turnover, total volume traded on the Nigerian Equities     Market increased by 26.11 percent to 297.48 million shares, valued at N2.29 billion, and traded in 3,438 deals.

“We expect gains to be sustained in tomorrow’s session, as today’s activities indicate strengthened interest,” the Cordros report added.