By InvestAdvocate

Click here to read full report

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday recorded its fifth consecutive gain for the first time this year, with the all-share index (ASI) climbing 0.07 percent to 25,671.55 points.

“Today’s positive performance increased the Month-to-Date gain to 1.35 percent and trimmed the Year-to-Date loss to 4.48 percent, Cordros daily market update reports.

The update said at the close of the session’s trading on the Nigerian bourse, the Oil & Gas index appreciated by 0.95 percent to record the largest gain, following demand for the shares of oil marketing majors, Mobil Nigeria Plc and Oando Plc, both gained 5.00 percent and 0.99 percent apiece.

Likewise, gains in the shares of Nigeria’s tier one lender, Guaranty Trust Bank Plc and Nestle Nigeria Plc by 3.23 percent and 2.74 percent each, buoyed the Banking and Consumer Goods indices to appreciate by 0.89 percent and 0.39 percent respectively.

 On the flip side, the Industrial Goods index lost by 0.31 percent to shed weight, owing to selloffs in the shares of Nigeria’s most capitalised listed company and cement producer, Dangote Cement Plc which lost by 0.55 percent, while the Insurance index closed flat.

The Cordros update reported at the close of the session’s trading, market breadth was negative, with 13 gainers and 22 losers posted, according to data from the NSE. Mobil Nigeria emerged the topmost gainer with a gain of N14.00 per share; while United Capital Plc became the topmost loser with a loss of 0.14 kobo per share to close the session.

In terms of turnover, total volume traded on the Nigerian equities market increased by 227.14 percent to 495.24 million shares, valued at N2.55 million, and exchanged in 2,587 deals.

“We expect the market to close higher in tomorrow’s session,” the Cordros update affirmed.