By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian equities market on Tuesday remained positive as the Nigerian Stock Exchange all-share index (NSE ASI) inched up 0.60 percent to close at 34,684.32 points, while market capitalisation appreciated by N6.76 billion to close at 11.49 trillion.

Cordros in its update says the Nigerian bourse remained positive despite the daily returns progressively losing strength as its Year-to-Date (Y-t-D) returns now stands at a negative 16.08 percent.

At the end of the day’s session two (2) out of the five (5) NSE Sectoral indices appreciated. The Consumer Goods index maintained its gaining streak with a 3.99 percent growth to retain its position at the top of gainers table this week, while the Insurance index also climbed up by 0.88 percent.

On the contrary, the Oil/Gas index led the losers table with a 2.93 percent decline, while the Banking and Industrial Goods indices also dipped by 2.12 percent and 1.39 percent respectively.

In terms of market breadth, Nigerian stocks closed negative with 23 gainers and 29 losers recorded. Foam Mattresses maker, Vono Products Plc emerged top gainer with a gain of 0.09 kobo; while oil marketing firm, Oando Plc led the losers chart with a loss of N1.85 to close the session.

At the end of transactions, turnover on the Nigerian bourse shows that volume traded reduced by 36.98 percent to 390.82 million shares valued at N6.99 billion and traded in 4,637 deals.

‘’We believe the market is on the verge of becoming bearish, as today’s weak gain further suggests,’’ the Cordros update affirmed.