The Nigerian equities market closed trading session on a bullish note, yesterday, as gains in Nestle Nigeria Plc and 19 stocks lifted overall capitalistaion to N71 billion.

At the close of transactions yesterday, the all-share index(ASI) up by 109.41 points, representing a gain of 0.04 per cent to close at 244,912.24 points.

Also, market capitalisation appreciated by N71 billion to close at N 158.087 trillion.

The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Nestle Nigeria, First Holdco, AVA Capital, VFD Group and FCMB Group.

Looking ahead, Cowry Assets Management Limited said, the market is expected to sustain its bullish trend as investor sentiment tilts increasingly positive, though residual profit-taking activity could temper the pace of any recovery.

Investor sentiment was negative as 27 decliners outpaced 20 advancers.

Linkage Assurance emerged the highest price gainer of 9.94 per cent to close at N1.77 kobo. AVA Capital followed with a gain of 9.55 per cent to close at N10.90 kobo and Fortis Global Insurance rose by 7.69 per cent to close at N2.80 kobo.

McNichols rose by 7.34 per cent to close at N5.85 kobo, while Wapic Insurance advanced by 5.51 per cent to close at N2.49 kobo.

On the other side, Honeywell Flour Mills and PZ Cussons Nigeria led others on the losers’ chart with 9.94 per cent each to close at N16.30 kobo and N74.75 kobo respectively, while Zichis Agro Allied Industries followed with a decline of 9.74 per cent to close at N20.76 kobo.

Learn Africa depreciated by 9.62 per cent to close at N9.40, while Neimeth International Pharmaceuticals declined by 8.33 per cent to close at N8.25 kobo.

The total volume traded declined by 47.3 per cent to 824.06 million units, valued at N25.47 billion, and exchanged in 48,114 deals.

Transactions in the shares of FCMB Group led the activity with 358.395 million shares worth N3.948 billion. Chams Holding Company followed with a volume of 33.923 million shares valued at N146.721 million, while Access Holdings traded 25.332 million shares valued at N661.21 million.

VFirst Holdco traded 21.911 million shares worth N2.78 billion, while Linkage Assurance traded 18.437 million shares worth N31.539 million.