Following gains recorded by many blue-chip stocks, the Nigerian Exchange (NGX) sustained gains, yesterday, as market capitalisation appreciated by N158 billion.

At the close of transactions, market capitalisation of listed equities increased by 0.44 per cent to close at N35.842 trillion from N35.684 trillion reported the previous day.

Also, the all-share-index also appreciated 286.26 basis points to 65488.67 points, from 65202.41 points traded on Monday.

Reacting on market performance, analysts at Investdata Consulting Limited said: “It is the time to buy into value stocks with strong fundamentals, as the market looks forward to favourable and positive news that will trigger yet another round of buying interest.

“We expect recovery as mixed sentiments continue on bargain hunting. However, downtrend are creating buying opportunities amidst economic reforms of the government, just as more policy pronouncements and economic managers hit the ground running, a situation expected to offer investment direction eventually.”

On the price movement chart, Cornerstone Insurance led the gainers’ chart with 9.84 per cent to N1.34 kobo, CWG followed with a gain of 9.74 per cent to close at N4.28 kobo, SCOA added 9.38 per cent to close at N1.40 kobo, ABC Transport increased by 8.33 per cent to close at 52 kobo. BUAFoods also added 7.91 per cent to close at N165 kobo.

On the other hand, Nigerian Breweries , SUNU Assurance and Chellaram Plc recorded the highest loss, declining by 10 per cent to close at N38.25 , 72 kobo and N3.96 kobo respectively.

John Holt trailed with a drop of 8.81 per cent to close at N1.45 kobo while Mutual Benefits dipped 6.82 per cent to close at 41 kobo.

Volume of trades increased by 61.864 million representing 26.71 per cent as investors traded 293.463 million shares valued at N4.122 billion in 5895 deals against 231.599 million shares worth N3.992 billion exchanged hands the previous day in 5494 deals.

Transnational Corporation of Nigeria (Transcorp) led market activities during the day with 41.441 million shares valued at N185.042 million, AccessCorp followed with account of 36.158 million shares worth N616.42 million.

Fidelity Bank traded 32.105 million shares valued at N229.733 million, Omatek exchanged 15.006 million shares worth N4.293 million.

Ecobank Transnational Incorporate exchanged a total of 13.2 million shares valued at N208.479 million.