By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-All-share index (ASI) on the Nigerian Stock Exchange (NSE) on Tuesday dipped 0.14 percent for the second straight session to close at 34,600.33 points, while market capitalisation depreciated  by N16.63 billion to close at N11.75 trillion.

This is coming on the heels of cautious trading by investors as shown in the low volume and value of trades, according to Cordros market update.

With this trend, current market Year-to-Date (Y-t-D) returns on the Nigerian bourse stands at a negative 0.16 percent.

The Cordros report say four (4) of the five (5) NSE Sectoral indices appreciated. “The Oil/Gas index topped the gainers’ list with a 0.84 percent increase, while the Insurance and Industrial Goods indices rose by 0.82 percent and 0.45 percent respectively,” the report added.

According to the Cordros update, the Banking index gained the least at 0.30 percent, while the Consumer Goods index was the sole loser with a 0.70 percent decline.

At the close of the day’s transaction on the Nigerian bourse, market breadth posted a negative outlook; recording 21 gainers and 26 losers. Oil services firm, Caverton Offshore Support Group Plc emerged top gainer with a gain of 0.30 kobo per share; while Nigeria’s mid tier lender Unity Bank Plc topped the lsoers chart with a loss of 0.33 kobo per share.

In terms of turnover, volume traded at the NSE at the close of business declined by 23.75 percent to 247.40 million shares, valued at N4.25 billion and traded in 4,848 deals.

“We expect a continuation of today’s outcome in tomorrow’s session, as positive catalysts remain unseen,” the Cordros report added.