By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Thursday rebounded after three (3) consecutive sessions of losses as all-share index (ASI) inched up 0.08 percent to close at 25,679.03 points, while market capitalisation added N7.41 billion to close at N8.83 trillion.

This is coming on the heels of investors’ interest in key Industrial and Consumer Goods counters such as cement producer, Dangote Cement Plc and beermaker, Nigerian Breweries Plc.

“Today’s gains increased the Month-to-Date gain to 4.51 percent and pared the Year-to-Date loss to 10.35 percent, according to Cordros daily market update.

The update reports that the Consumer and Industrial Goods sectors appreciated 1.10 percent and 0.32 percent apiece on the back of gains in NB and DANGCEM by 4.11 percent and 0.61 percent respectively.

On the contrary, the Banking index declined by 1.27 percent following losses recorded in the shares of Nigeria’s top tier lender, Zenith Bank Plc and financial HoldCo, FBN Holdings Plc by 0.65 percent and 4.63 percent apiece.

Similarly, price declines in the shares of oil marketer, Oando Plc and insurer, AIICO Insurance Plc by 4.82 percent and 4.94 percent respectively led to losses in the Oil & Gas and Insurance sectors by 0.35 percent and 0.29 percent respectively.

At the close of today’s session on the local bourse, market breadth remained negative, with 10 gainers and 21 losers posted.

Nigeria’s mid-tier lender, Unity Bank Plc emerged the top gainer with a gain of 0.03 kobo per share; while Access Bank Plc topped the losers chart with a loss of 0.37 kobo per share.

In terms of turnover, total volume traded on the Nigerian equities market increased by 57.68 percent to 6.87 billion shares worth N7.68 billion and traded in 3,632 deals.

“We expect the bears to resurface in tomorrow’s session, as today’s gains were marginal and market breadth remains indicative of weak investors’ appetite,” the Cordros update affirmed.