Stockbrokers do business on the trading floor of the Nigerian Stock Exchange, on October 8, 2008 in Lagos. Global financial turmoil has battered markets around the world, posing risks to foreign investment and trade that could threaten Africa's recent economic gains, according to experts. Losses highlighted steady declines all year in major African markets with oil-exporter Nigeria off 31 percent from its March high. AFP PHOTO/PIUS UTOMI EKPEI

The Nigerian equities market recorded further gain in Thursday’s trading as demand for Dangote Cement (+4.3%) spurred a 0.9% increase in the All-Share Index.

Thus, the NSE ASI settled at 24,354.25 points. Accordingly, Month-to-Date gain increased to 5.8%, as Year-to-Date losses moderated to -9.3%.

The total volume of trades increased by 1.2% to 431.58 million units, valued at NGN5.26 billion and exchanged in 5,860 deals.

FBNH was the most traded stock by volume at 115.57 million units while Nestle was the most traded stock by value at NGN1.35 billion.

Sectoral performance was positive as all sector indices gained, save for the Banking (-2.0%) index that was dragged down by losses in Tier 1 bank names.

The Consumer Goods (+2.4%) index led the gains, followed by the Industrial Goods (+2.0%), Insurance (+1.0%) and Oil and Gas (+0.6%) indices.

Market sentiment, as measured by market breadth, was positive (1.1x), as 21 tickers gained, relative to 20 losers.

Royalex (+10.0%) and UPL (+9.8%) were the top gainers of the day, while Linkassure (-8.3%) and Redstarex (-5.0%) were the top losers of the day.

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