By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Wednesday rebounded as the all-share index (ASI) climbed up 0.51 percent to close at 25,885.31basis points, while market capitalisation grew by N44.82 billion to N8.90 trillion.

“Today’s gains increased the Month-to-Date gain to 5.35 percent and cut the Year-to-Date loss to 9.63 percent, according to Cordros daily market update.

The update reported that the Oil & Gas and Banking sectors appreciated 0.71 percent and 0.67 percent respectively on the gains recorded in the shares of oil marketing major, Oando Plc and financial Holdco, FCMB Group Plc by 10.17 percent and 7.89 percent apiece.

Similarly, Cordros reported the Consumer Goods index climbed up by 0.55 percent on the back of share price appreciations in Tiger Branded Consumer Goods Plc and soap and detergent producer, Unilever Nigeria Plc by 9.66 percent and 1.82 percent respectively.

Also, The Industrial and Insurance sectors gained 0.40 percent and 0.24 percent following the positive performance of Nigeria’s most capitalised listed company and cement producer, Dangote Cement Plc and insurer, NEM Insurance Plc both appreciating by 0.54 percent and 4.11 percent respectively.

At the close of today’s trading on the Nigerian bourse, market breadth was positive, with 27 gainers and 12 losers posted, according to the NSE’s daily market statistics.

Oando emerged the top gainer with a gain of 0.41 kobo per share; while primary glass manufacturer, Beta Glass Plc topped the losers chart with a loss N2.50 kobo per share to close the day.

In terms of turnover, total volume traded on the Nigerian equities market declined by 7.91 percent to 214.95 million shares worth N1.35 billion and traded in 3,327 deals.

“We anticipate further gains in tomorrow’s session as market breadth indicates positive investors’ sentiments,” the Cordros update affirmed.