NSE inches up by 0.33% as investors’ interest in blue-chip stocks soars

The equities market on The Nigerian Stock Exchange (NSE) closed positive, with the All-Share Index (ASI) inching higher by 0.33 per cent to close at 43,092.63 points due to investors’ interests in major stocks.

Accordingly, the Month-to-Date loss dropped to -0.55 per cent, while the Year-to-Date return improved to 12.68 per cent.

The Consumer Goods (+0.92%) index recorded the largest gain, while the Banking (+0.65%) index followed suit – halting two consecutive sessions of loss – following renewed interests in the shares of NB (+0.72%) and GUARANTY (+2.94%) shares respectively.

On the other hand, the Insurance (-0.85%), Industrial Goods (-0.54%), and Oil & Gas (-0.03%) indices posted losses, owing to profit-taking in MANSARD (-4.36%), DANGCEM (-1.13%), and FO (-0.22%) shares.

Market breadth remained positive, with 30 gainers and 27 losers, led by JAPAULOIL (+9.88%) and CILEASING (-9.28%). Total volume of trades surged by 112.63%, valued at NGN3.39 billion (-34.48%), and exchanged in 4,340 deals.

Analysts predict continued gains on the domestic bourse, on the back of expected positive corporate earnings, which are likely to buoy investor sentiments.