By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian equities on Wednesday declined 0.37 percent on sustained negative momentum as all-share index (ASI) closed at 33,478.42 points, while market capitalisation dropped N42.41 billion to close at N11.43 trillion.

This is coming on the heels of declines across various sectors of the Nigerian Stock Exchange (NSE) resulting to current market Year-to-Date (Y-t-D) returns to a negative 3.40 percent at the close of today’s session.

According to Cordros daily market update, the Consumer Goods index was the sole gainer with a marginal increase of 0.15 percent.

On the contrary, the Oil/Gas index recorded the highest loss with 0.73 percent, while the Industrial Goods and Banking indices followed with 0.55 percent and 0.49 percent plunge respectively, the Cordros report affirmed.

The report says in addition, the Insurance index dipped the least with 0.04 percent.

At the close of today’s transaction on the Nigerian bourse, market breadth sustained a negative outlook recording 22 gainers and 24 losers.

Paint maker, Berger Paint Plc emerged top gainer with a gain of N1.04 per share; while brewer, Guinness Nigeria Plc topped the losers chart with a loss of N9.75 per share.

In terms of turnover, volume traded depreciated by 14.84 percent to 204.93 million shares, valued at N7.40 billion and traded in 3,700 deals.

“We expect the market to loss marginally in tomorrow’s session as cautious trading continues,” the Cordros update affirmed.