The Nigerian Exchange Limited (NGX) yesterday closed with a gain of N7 billion, extending the rebound recorded in the previous session. The all-share index (ASI) gained 10.77 points, representing a growth of 0.01 per cent to close at 166,267.6 points.

Also, market capitalisation gained N7 billion to close at N106.443 trillion. The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; NCR Nigeria, Julius Berger Nigeria, Fidson Healthcare, May & Baker Nigeria and Vitafoam Nigeria.

On market outlook, analysts at Futureview stated: “We expect investors to trade cautiously, focusing on fundamentally strong stocks with attractive valuations.”

Market breadth remained positive, with 54 advancing stocks outpacing 24 declining counters. McNichols, NCR Nigeria and R.T. Briscoe (Nigeria) followed with a gain of 10 per cent each to close at N6.93, N171.05 and N4.95 respectively.

Sectoral activity showed a divergent trend as the Industrial sector led the gains, edging up by 0.09 percent, while the consumer goods sector posted a marginal increase of 0.03 percent. On the other hand, the Insurance sector recorded the steepest decline, falling 1.01 percent, with the oil and gas sector dropping 0.94 percent.

The commodity sector slipped by 0.42 percent, and the banking sector also retreated slightly, losing 0.27 per cent. Jaiz Bank followed with a gain of 9.99 per cent to close at N7.93, while May & Baker Nigeria rose by 9.95 per cent to close at N43.65 kobo.

On the other hand, Champion Breweries led the losers’ chart by 9.31 per cent to close at N19. Secure Electronic Technology followed with a decline of 6.78 per cent to close at N1.10, while Wapic Insurance declined by 6.69 per cent to close at N3.35 kobo.

Ecobank Transnational Incorporated (ETI) depreciated by six per cent to close at N47, while AXA Mansard Insurance declined by 5.63 per cent to close at N15.10 kobo.

Meanwhile, the total volume traded rose by 3.43 per cent to 822.737 million units, valued at N24.931 billion, and exchanged in 43,548 deals. Transactions in the shares of Zichis Agro-Allied Industries topped the activity chart with 69.224 million shares valued at N150.908 million. Secure Electronic Technology followed with 54.797 million shares worth N61.913 million, while Access Holdings traded 40.111 million shares valued at N917.762 million.

Zenith Bank traded 38.111 million shares valued at N2.742 billion, while Tantalizer sold 33.063 million shares worth N125.972 million.