By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian equities market commenced the week on a bullish note, with the all-share index (ASI) advancing by 0.03 percent to close at 26,231.37 points.

“Today’s positive performance trimmed the Year-to-Date loss to 2.39 percent,” Cordros daily market update affirmed.

According to the report, at the close of the session on the domestic bourse, the Oil & Gas index appreciated by 0.14 percent to post the largest gainer, on the back of demand for the shares of  oil marketing majors, Oando Plc and Total Nigeria Plc both gaining 3.94 percent and 2.14 percent apiece.

The Consumer Goods and Industrial Goods indices also appreciated by 0.04 percent and 0.01 percent each, following gains in the shares of Nigeria’s top brewer, Guinness Nigeria Plc, cablemaker, Cutix Plc both climbing up by 2.24 percent and 4.40 percent respectively.

On the flip side, the Banking index dropped by 0.03 percent, owing to selloffs in the shares of Nigeria’s top tier lenders, Zenith Bank Plc and Guaranty Trust Bank Plc, the duo gained 0.31 percent and 0.25 percent each, while the Industrial Goods  index was flat.

At the close of trading on the Nigerian bourse, market breath posted a positive outlook with, with 19 gainers and 15 losers recorded, according to data from the Nigerian Stock Exchange (NSE). UACN Property Development Company Plc emerged the top gainer with a gain of 0.14 kobo per share while, drugmaker, May & Baker Nigeria Plc topped the losers list with a loss 0.05 kobo per share.

In terms of turnover, total volume traded on the Nigerian equities market increased by 12.51 percent to 228. 60 million shares, valued at N2.58 billion shares, and exchanged in 3,228 deals.

“We expect bearish sentiment to return in tomorrow’s session,” the Cordros report said.