By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian equities market on Thursday reversed its three-day losing streak, with the all-share index (ASI) advancing 0.18 percent to close at 26,464.82 points.

“Today’s positive performance increased the Month-to-Date gain to 4.49 percent, while it reduced the Year-to-Date loss to 7.85 percent,” according to Cordros daily market update.

The update says at the close of the session on the Nigerian Stock Exchange (NSE), the Oil & Gas and Industrial Goods indices advanced 2.46 percent and 0.22 percent, owing to gains recorded by the shares of Forte Oil Plc and Conoil Plc by 10.24 percent and 10.20 percent each. While cement manufacturers, Lafarge Cement Wapco Plc and Cement Company of Northern Nigeria Plc gained 0.02 percent and 4.75 percent respectively.

According to the Cordros report, the Banking and Insurance indices lost by 0.12 percent and Insurance 0.13 percent each, the Consumer Goods index declined by 0.03 percent, following selloffs in the shares of Guaranty Trust Bank Plc, AIICO Insurance Plc and Honeywell Flour Mills Plc all depreciating by 0.56 percent, 1.64 percent and 4.65 percent apiece.

At the close of trading on the domestic bourse, market breadth remained positive, with 18 gainers and 13 losers recorded, according to data from the NSE. Forte Oil topped the gainers list with a gain of N8.75; while Presco Plc emerged the top loser with a loss of N1.99 per share.

In terms of turnover, total volume traded on Nigerian bourse declined by 55.20 percent to 188.68 million shares, valued at N1.39 billion, and exchanged in 3,161 deals.

“We expect sentiments to remain positive in tomorrow’s session,” the Cordros update said.