By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian stocks on Thursday reversed the rebound of the previous session, with the all-share index (ASI) falling by 0.10 percent to close at 25,490.70 points.

“Thursday’s negative close increased the Month-to-Date (-6.35 percent) and Year-to-Date (-11.36 percent) losses,” according to Cordros daily market update.

The report says the Oil & Gas index took a hit to close in red following selloffs in the shares of oil marketing majors, Total Nigeria Plc and Forte Oil Plc which lost by 8.98 percent and 1.43 percent, while beer producer, Nigerian Breweries Plc lost by 0.23 percent weighed on the Consumer Goods index to depreciate 0.13 percent.

On the positive side, the Banking index closed higher with a gain of 0.15 percent, on the back of price appreciations in the shares of Guaranty Trust Bank Plc and FBN Holdings Plc both gained by 0.99 percent and 1.67 percent, whilst the Insurance index appreciated by 0.02 percent benefitted from a gain in the shares of NEM Insurance Plc by 4.23 percent.

At the close of trading on the domestic bourse, market breadth remained positive, with 16 gainers and 13 losers, according to data from the Nigerian Stock Exchange (NSE). African Prudential Registrars Plc emerged the top gainer with a gain of 0.13 kobo per share; while air logistics firm Newrest, ASL Plc emerged the top loser with a loss of 0.28 kobo per share.

In terms of turnover, total volume traded dropped by 41.39 percent to N97.14 million shares, valued at N1.14 billion, and traded in 1,929 deals (a record low).

“We expect snippets of buying in tomorrow’s session,” the Cordros report affirmed.