By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian Equities on Tuesday fell lowest since April 22, 2013 (20 months) as the Nigerian Stock Exchange (NSE) all-share index (ASI) declined 0.42 percent to 32,932.49 points, while market capitalisation lost N47.31 billion to close at N10.87 trillion.

According to a Cordros market update, Tuesday’s loss sent the month-to-date and year-to-date returns to at the Nigerian equities market to a negative 4.66 percent and 20.32 percent respectively.

The benchmark index falling to its lowest level at the Nigerian bourse since 22nd of April 2013 was as a result of broader sell-offs

Cordros reported that gains in the shares of soap makers, PZ Cussons Nigeria Plc and beverage manufacturers, Nestle Nigeria Plc inspired the Consumer Goods index to appreciate by 0.42 percent.

On the other hand, the Insurance index went down 1.99 percent, the Oil/Gas index followed with a 1.42 percent decline, while the Banking and Industrial indices dipped by 1.42 percent and 0.02 percent respectively.

Market breadth at the Nigerian equities market remained on the negative side as it closed the session with 40 losers and seven (7) gainers. Again, PZ led the gainers chart with a gain of N3.04; while conglomerate, Transnational Corporation of Nigeria emerged top loser, with a loss of 0.19 kobo.

In terms of turnover, at the end of transactions on the Nigerian bourse, volume traded increased by 12.77 percent to 354.20 million shares, worth N7.59 billion and exchanged in 4,482 deals.

“The bears are expected to persist tomorrow as the headwinds continue to mount,” the Cordros report affirmed.