By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigeria’s equities market Year-to-Date (YTD) decline has hit 11.09 percent following losses recorded on Tuesday at the end of transaction at the Nigerian Stock Exchange (NSE).

All-share index (ASI) lost 1.61 percent to close at 36,744.46 points, while market capitalisation dropped by N198.51 million to close at N12.71 trillion.

According to the Cordros daily market update, investors’ appetite dampened further with only nine (9) stocks witnessing demand, which led to the biggest decline recorded since the losing streak commenced.

The report affirmed that the bearish sentiment was reflected in all NSE sectoral indices which closed lower than their previous values. The industrial index topped the losers’ chart with a 3.04 percent drop, the oil/gas index followed with a 2.00 percent loss, while the consumer goods, banking and insurance indices went down by 1.93 percent, 0.93 percent and 0.72 percent respectively.

Similarly, market breadth was very weak, as the nation’s stock exchange recorded 39 losers and nine (9) gainers. Cable manufacturers, Cutix Plc led the gainers chart; while cement producers, Ashaka Cement Plc topped the gainers table.

In terms of turnover, volume traded increased 164.01 percent to 752.77million shares, valued at N4.18 billion and traded in 4,997 deals.

‘’We expect more bearish sessions this week, due to the high level of negative sentiments,’’ the Cordros update affirmed.