The Nigerian bourse recorded considerable gains Monday through Friday as investors’ appetite for big-cap and medium-cap equities continued to grow.

However, the bull run in the market ended abruptly at the Friday session as profit-taking actions caused trade to end in the negative territory for the first time in ten days.

The significant rallies in the market in the past few weeks made the index to improve by 16.39% in April, a development that attracted global attention as Bloomberg ranked the Nigerian bourse second on its list of the best performing indexes in the period.

All the key market performance indicators closed higher. A positive market breadth was recorded this week as 39 gainers emerged against 22 losers. The All Share Index (ASI) and the Market Capitalisation both grew by 4.45% to 24,045.40 basis points and N12.531 trillion respectively.

Read also: NSE: Investors lose N160.957 billion as profit-taking halts bull run

Trade Volume of 1.662 billion shares worth N18,205 billion was recorded in 28,791 deals this week compared to the 1.012 billion shares valued at N9.892 billion posted in 17,023 deals last week.

On the Activity Chart, the Financial Services sector dominated trade with 1,385 billion shares estimated at N11.813 billion traded in 17,117 deals. Specifically, it contributed 83.35% and 64.89% to the total equity volume and value respectively. The Services sector came next, trading 53.551 million shares worth N128.065 million in 1,003 deals. The Consumer Goods industry followed, trading 53.444 million shares priced at N2.780 billion in 3,607 deals.

As regards Index Movement, all indices appreciated save for NSE ASeM, which declined by 0.18%.
Source:http://c.newsnow.co.uk/A/1030968225?-395:737

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