By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian stocks on Tuesday rebounded after plunging 0.77 percent Monday on the inauguration of President Muhammadu Buhari as the new leader of the Federal Republic of Nigeria.

At the end of transactions on the Nigerian Stock Exchange (NSE) all-share index (ASI) closed at 34,061.89 points, while market capitalisation climbed up by N5.86 billion to close at N11.57 trillion.

With this appreciation current market Year-to-Date (Y-t-D) returns on the Nigerian bourse stands at a negative 1.72 percent

Cordros market update reports that three (3) of the five (5) NSE sectoral indices gained. “The Consumer Goods index topped the gainers’ list with a 0.96 percent appreciation, while the Insurance and Industrial Goods indices recorded lesser gains of 0.31 percent and 0.01 percent respectively,” the report added.

On the contrary, the Oil/Gas index recorded the worst performance with a 1.60 percent plunge, while the Banking index also declined by 0.33 percent, the Cordros report added.

At the close of business on the NSE, market breadth posted a positive outlook reporting 26 gainers and 19 losers.

Foam maker, Vono Products Plc for the fifth consecutive time since last week Thursday emerged top gainer with a gain of 0.17 kobo per share, while insurer, International Energy Insurance Plc topped the losers chart with a loss of 0.03 kobo per share to close the session.

In terms of turnover, volume traded on the Nigerian equities market at the end of the session dipped 34.23 percent to 224.07 million shares, valued at N3.48 billion and traded in 3,940 deals.

“We expect cautious trading to continue tomorrow,” the Cordros daily update affirmed.