By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian equities market on Wednesday reversed the previous session’s negative performance, with the all-share index (ASI) advancing marginally by 0.01 percent to close at 25,673.80 points.

“Today’s bullish performance increased the Month-to-Date gain to 1.59 percent, whilst paring the Year-to-Date loss to 10.70 percent, according to Cordros daily market update.

The report affirmed that majority of the indices advanced, save for the Consumer Goods and Industrial Goods indices which lost by 0.35 percent and 0.00 percent apiece.

According to Cordros, the Banking and Insurance indices appreciated by 0.02 percent and 0.51 percent each and bolstered by gains in the shares of Guaranty Trust Bank Plc, FBN Holdings Plc by 0.22 percent and 3.01 percent respectively; while NEM Insurance Plc and Continental Reinsurance Plc gained 4.17 percent and 3.09 percent apiece.

Also, the Oil & Gas index gained by 0.59 percent and continued its rally, with Forte Oil Plc appreciating by 10.24 percent to top the gainers’ chart.

Cordros reports that losses in the shares of Nigerian Breweries Plc and Flour Mills of Nigeria Plc by 1.03 percent and 3.63 percent each ensured that the Consumer Goods index closed lower.

At the close of the session on the Nigerian bourse, market breadth was negative, with 16 gainers and 20 losers recorded, according to data from the Nigerian Stock Exchange (NSE). As forte Oil led the gainers list, Oando Plc topped the losers table with a loss of 9.43 percent.

In terms of turnover, total volume traded on the Nigerian equities market increased by 35.03 percent to 255.00 million shares valued at 2.08 billion, and traded in 2,480 deals.

“We expect sentiments to reverse in tomorrow’s session,” the Cordros update affirmed.