Nigerian bourse maintains positive run, as NSE index up 1.1%

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The positive performance recorded in the local bourse on Wednesday was extended to yesterday as the All Share Index grew 1.1 per cent to close at 38,350.64 points while year-to-date (YTD) gain advanced to 42.7 per cent.

As a result, investors gained N148.3 billion in value as market capitalisation increased to N13.6tn. The day’s performance can be largely attributed to buy interest in Dangote Cement (+3.9%). However, activity level was mixed as volume traded surged 106.5 per cent to 429.4 million units while value traded declined 55.3 per cent to N1.5 billion.

Performance across sectors was mixed as three of five indices trended southwards. The Industrial Goods index appreciated the most, rising 2.2 per cent due to price appreciation in Dangote Cement (+3.9%). Similarly, the banking index gained 0. Per cent as investors took position in Ecobank Transnational Incorporated (+4.2%), Access Bank (+1.8%) and United Bank for Africa (+1.0%).

On the flip side, the consumer goods index was the biggest loser, down 0.8 per cent due to sell offs in Nestle Nigeria (-2.0%), Dangote Sugar Refinery  (-5.8%) and Nigerian Breweries (-1.1%).

Likewise, the oil & gas and insurance indices contracted 0.5 per cent and 0.4 per cent on the back of losses in Total Nigeria (-4.8%) and WAPIC Insurance (-2.0%) respectively.

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