By InvestAdvocate
Lagos (INVESTADVOCATE)-The bulls on Monday resurfaced in the Nigerian equities market driven primarily by buying interest across banking stocks with the all-share index (ASI) advancing by 0.18 percent to close at 26,373.83 points.
“Today’s positive performance trimmed the Year-to-Date loss to 2.04 percent,” according to Cordros daily market update.
The report says the gain recorded in the Banking index by 1.31 percent was on the back of price appreciations in the shares of top tier lenders like Zenith Bank Plc, Stanbic IBTC Bank and Diamond Bank Plc all climbing 2.12 percent, 1.93 percent and 7.21 percent respectively.
On the flipside, the Consumer Goods, Industrial Goods and Oil & Gas indices gained 0.36 percent, 0.01 percent and 0.57 percent apiece to close in the red, following selloffs in the shares of beer producer, Nigerian Breweries Plc, cable maker Cutix Plc insurer, Wapic Insurance Plc and oil marketer, Total Nigeria Plc all declining 0.13 percent, 4.52 percent, 1.89 percent and 4.87 percent each.
Cordros reports at the close of the session on the Nigerian Stock Exchange (NSE) market breadth was positive, with 17 gainers and 15 losers recorded, according to data from the NSE.
Lender, Diamond Bank Plc topped the gainers list with a gain of 0.08 kobo per share; while consumer transaction technologies firm, NCR Nigeria Plc emerged the top loser with a loss of 0.42 kobo per share.
In terms of turnover, total volume traded increased by 17.12 percent to 174 million shares, valued at N1.18 billion and exchanged in 3,075 deals.
“We expect the bears to resurface in tomorrow’s session,” the Cordros update affirmed.
