By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian bourse pared Monday’s gain, following selloffs across major consumer goods stocks.

At the close of Tuesday’s session, the all-share index (ASI) declined by 0.17 percent to close at 25,329.08 points.

“Today’s performance increased the Month-to-Date (-2.72 percent) and Year-to-Date (-5.75 percent) losses,” according to Cordros daily market update.

The report says, the Consumer Goods index took a hit and dropped 1.37 percent, on the back of profit-taking in the shares of Honeywell Flour Mills Plc, beer producers, Nigerian Breweries Plc and Guinness Nigeria Plc all crashed 4.76 percent, 3.90 percent and 2.12 percent apiece.

On the other hand, Cordros reports the Banking, Insurance and Oil & Gas indices closed higher 0.22 percent, 0.27 percent and 0.21 percent each, with the following stocks playing host; Guaranty Trust Bank Plc, FBN Holdings Plc both gained 0.32 percent each, while insurer, AIICO Insurance Plc and reinsurer, Continental Reinsurance Plc appreciated by 3.64 percent and 0.99 percent respectively.

Oil marketing majors, Total Nigeria Plc and Oando Plc gained 3.66 percent and 1.87 percent each, while the Industrial Goods index remained flat.

According to the report, at the close of trading on the Nigerian Stock Exchange (NSE), market breadth posted a positive outlook, with 15 gainers and 12 losers recorded, according to data from the NSE.

Manufacturing, services, logistics and warehousing firm, UAC of Nigeria Plc topped the gainers list with a gain of 0.65 kobo per share; while oil marketing company, Forte Oil Plc emerged the topmost loser with a loss of N2.51 to close the session.

In terms of turnover, total volume traded on the Nigerian equities market increased by 74.49 percent to 444.50 million shares, valued at N3.65 billion, and traded in 3,336 deals.

“We expect the bulls to resurface in tomorrow’s session,” the Cordros update added.