Nigerian bourse records third successive positive close on Monday

The Nigerian Equities market recorded a third successive positive close today as the NSE ASI gained 24bps on its previous close of 36,703.58 points to close at 36792.60 points.

Market capitalization closed at 12.794 trillion naira and market breadth closed bullish with 15 losers as against 17 gainers.

NSE INDUSTR and NSE ASEM maintained their previous closes again. The NSE OILGAS was the only index to close negative as all other indices gained on their previous closes.

The trade volume and total trade value levels both dropped from previous levels of 1.8 million shares valued at 6.8 billion naira to close at 208 million shares valued at 2.4 billion naira today.

CUSTODYINS, FBNH, FIDELITYBK, DIAMONDBNK and ZENITHBANK topped the volume-based rankings while ZENITHBANK, STANBIC, NB, INTBREW and GUARANTY topped the value-based ranks.

According to investment analysts atAPT Securities and Funds limited, the positive form of the market that has run into its third day today since Thursday’s trading session is expected to fade out in the coming trading days with profit-taking bound to overwhelm the market’s gaining streak.