The Nigerian equities market continued to trade with bullish sentiments for the fifth consecutive session on gains of high caps stocks to appreciate by 1.58 per cent.
Basically, the All-Share Index (ASI) rose by 1.58 per cent to close at 29,437.60 basis points amid sustained bullish momentum; even as the Exchange recorded 41 gainers as against five losers at the close of the trading session.
Accordingly, Month-to-Date and Year-to-Date returns both increased to 9.7 per cent.
Nestle Nigeria and Custodian Insurance topped the gainers’ list having appreciated by ten per cent each, while Royal Exchange and Cutix recorded the largest losses of the day having declined in value by eight per cent and 6.8 per cent respectively.
Specifically, the NSE Consumer Goods index advanced by 5.66 per cent amid positive third-quarter financial performance of some companies in the sector.
Similarly, all other sub-sector indices closed in green; the NSE Banking, NSE Insurance, NSE Oil/Gas and NSE Industrial rose by 1.18 per cent, 1.52 per cent, 2.14 per cent and 1.12 per cent, respectively.
The total volume of trades decreased by 2.7 per cent to 375.25 million units, valued at N4.63 billion and exchanged in 5,947 deals. Zenith Bank was the most traded stock by volume at 46.66 million units, while BUA Cement was the most traded stock by value at N1.04 billion.
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Equities market posts fifth day gain, appreciates by 1.6 per cent