By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian stocks on Wednesday ended its four (4) days gaining streak with the all-share index (ASI) dipping by 0.20 percent to close at 29,759.04 points while market capitalisation went down by N20.10 billion to close at N9.91 trillion.

With this loss, current Year-to Date (YTD) returns at the Nigerian Stock Exchange (NSE) stands at a negative 14.13 percent.

According to Cordros daily market update one (1) out of the five (5) NSE sectoral indices gained. It reports that the Insurance index was the only gainer with a 0.38 percent increase.

On the contrary, the Oil/Gas index had the worst performance with 1.14 percent decline, while the Industrial Goods and Banking indices followed with 0.51 percent and 0.28 percent depreciation respectively. Similarly, the Consumer Goods index went down the least by 0.25 percent.

In terms of market breadth at the end of the session, Nigerian equities closed on a negative note with 19 gainers and 26 losers. UACN Plc emerged top gainer with a gain of N1.70; while paint maker, Portland Paints and Products Nigeria Plc led the loser chart with a loss of 0.19 kobo.

The NSE turnover shows that volume traded declined by 26.33 percent to 229.48 million shares valued at N3.29 billion and traded in 3,901 deals.

“Bearish trading will continue tomorrow, as market participants remain sensitive to macro issues,” the Cordros daily market update affirmed.