NSE: Banking stocks gain pushes market upbeat at 0.33%

nseTHE Nigerian Equities market set off the week on Monday with positive vibe of 0.33 per cent from the previous trading session.

Basically the Nigerian Stock Exchange closed at 36971.27 to bring the Year-To-Date returns to 35.57 per cent, while market capitalisation finished higher at N12.853 trillion respectively.

The market breadth like most of last week swings still in favor of the bulls with a ratio of 1.6 with 24 gainers against 15 losers.

Transactions in the shares of Transcorp, United Bank for Africa, Guaranty Trust Bank, FCMB Holdings and FBN Holdings topped the activity chart as most traded equities as measured by volume and Guaranty Trust Bank, Zenith Bank, Presco, United Bank for Africa and Nigeria Breweries made up the top five traded equities based on the value of their trades.

The notable performance of the banking sector as they dominate performance charts on both value and volume basis is seen on the sectoral index chart as the sector closed the highest with a 0.99 per cent change from the previous trading session.

The consumer goods sector and oil and gas sector indices closed in the red zone while all others closed positive.

NSEASEM remains logged at 1156.70. Volume and value of trades closed higher at 215 million shares and N2.7 billion in contrast to 160 million shares and N2.2 billion.

More positive reactions by investors to the bullish run of the market in subsequent trading session is however expected.

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