By InvestAdvocate

Lagos (INVESTADVOCATE)-Sentiments reversed in the Nigerian equities market following yesterday’s loss, as the all-share index (ASI) and market capitalisation advanced by 0.15 percent to close at 26,385.80 points.

“Today’s gain reduced the Year-to-Date loss to 1.82 percent”, according to Cordros daily market update.

The report says the Banking and Oil & Gas indices closed positive by 0.73 percent and 0.37 percent apiece, following demand in the shares of Nigeria’s top tier lenders Guaranty Trust Bank Plc and Zenith Bank Plc by 1.87 percent and 0.60 percent each, while Forte Oil Plc and Eterna Plc gained 2.17 percent and 4.04 percent respectively to boost the Oil & Gas index.

Conversely, selloffs in the shares of brewing giant, Guinness Nigeria Plc and cement manufacturer, Cement Company of Northern Nigeria Plc both losing by 6.38 percent and 3.86 percent each weighed on the Consumer Goods index by 0.28 percent, while insurer, Axa Mansard Insurance Plc dropped 1.23 percent to impact negatively on the Insurance index by 0.15 percent.

Cordros reports at the close of the session, market breadth was positive with 19 gainers and 16 losers posted, according to data from the Nigerian Stock Exchange (NSE). Okomu Oil Palm Plc emerged the top gainer with a gain of N4.10; while Guinness topped the losers list with a loss of N5.10.

In terms of turnover, Cordros said total volume traded on the domestic bourse fell by 47.04 percent to 197.45 million shares, valued at N1.05 billion, and exchanged in 3,410 deals.

“We expect the bears to resurface in tomorrow’s session, as there are no strong fundamentals to support a bullish trend,” the Cordros report affirmed.