It was another bullish week for equities investors as the market rode on the continued positive sentiments to gain N The market, which had previously recorded its highest weekly gain, rallied further last week on persistent investors' positive reactions to first quarter Q1 earnings reported by companies. The Nigerian Stock Exchange NSE All-Share Index NSE ASI rose by 1. Similarly, all other Indices finished higher during the week with the exception the NSE Insurance and NSE Industrial Goods Indices that depreciated by 0.

The NSE Banking Index appreciated by 3. However, on the contrary, the Industrial Goods Index declined 1. Analysts at Afrinvest said the market performance was driven by "swirls of positive sentiment, which emanated from the impressive Q1 earnings and expectations of a rebound in economic activities following positive PMI readings for April and improved FX liquidity.

The market commenced the week and new month on a positive note on Tuesday as the NSE ASI appreciated by 0. The gain recorded could be attributed to the renewed investor sentiments witnessed in the market from last week, coupled with some impressive Q1: Specifically, sustained interest in market bellwethers such as Zenith Bank, Nestle Nigeria, Guaranty Trust Bank and Seplat contributed to the positive performance.

Performance across sectors was broadly positive as all indices closed in the green save for the NSE Industrial Goods Index which stagnated. The NSE Banking Index appreciated the most, rising by 1. Similarly, the NSE Consumer Goods Index and NSE Insurance indices closed 0. At the end of trading, 22 stocks added value compared with 12 decliners.

Conversely, UACN of Nigeria Plc, Forte Oil Plc and AIICO Insurance shed 5. The market appreciated further as the bulls consolidated their hold on the market. The NSE ASI appreciated by 0. The appreciation recorded in the share prices of Zenith Bank, Nigerian Breweries, Access Bank, FBN Holdings and UBA were mainly responsible for the gain recorded in the Index.

Market performance was broadly bullish as all sector indices closed in the green. The NSE Banking Index advanced the most, chalking up 1. Likewise, the NSE Consumer Goods Index and Insurance indices trended northwards by adding 0.

The NSE Industrial Goods Index closed unchanged. The stock market recorded gains for the fifth consecutive trading session on Thursday as investors continued to take position in large cap stocks on the exchange. Consequently, the NSE ASI closed 0. Also, the market capitalisation added N18 billion to close at N9.

The positive close was majorly driven by gains in Nigerian Breweries Plc, Zenith Bank and International Breweries Plc. A total of 26 stocks advanced while 15 declined. International Breweries Plc led the price gainers with 9. Conversely, Stanbic IBTC Bank Plc led the price losers with 9. AXA Mansard Insurance Plc went down by 4. The recorded its fourth consecutive gain on Friday adding 0. Meanwhile, investors traded 1. The Financial Services Industry maintained its lead on the activity chart with The Oil and Gas Industry followed with The Services Industry occupied the third position with a turnover of Also traded during the week were a total of 20 units of Exchange Traded Products ETPs valued at N, Similarly, a total of 1, units of Federal Government Bonds valued at N1.

The price movement chart showed 43 advancers higher than the 38 equities of the previous week, while 16 equities depreciated in price, lower than 25 equities of the previous week. Fidson Healthcare Plc led the price gainers' chart with Oando Plc trailed with 24 per cent, while Livestock Feeds Plc appreciated by Nigerian Aviation Handling Company Plc, chalked up Other top price gainers were: Conversely, Unity Bank Plc led the price losers with Stanbic IBTC Holdings Plc went down by 6.

Medview Airline Plc and Jaiz Bank Plc declined by 4. Honeywell Flour Mills Plc 4. Distributed by AllAfrica Global Media allAfrica. To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here. AllAfrica publishes around reports a day from more than news organizations and over other institutions and individuals , representing a diversity of positions on every topic.

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