By InvestAdvocate

Lagos (INVESTADVOCATE)- Sell-offs in the Financial Services and Consumer Goods sectors of the Nigerian Stock Exchange (NSE) dragged down benchmark index to 0.34 percent to close at 33,266.87 basis points, while market capitalisation dipped by N39.11 billion to close at N11.36 trillion.

Cordros daily market update says that the negative session increased the Month-to-Date (M-t-D) and Year-to-Date (Y-t-D) returns on the Nigerian bourse to a negative 3.04 percent and 4.01 percent respectively.

According to the Cordros report, at the close of business on the Nigerian equities market, gains in oil marketing companies Mobile Nigeria Plc and Oando Plc led to a 0.09 percent increase in the Oil/Gas index, the sole gainer amongst the five (5) NSE sector indices.

“The Insurance index topped the losers’ chart with a 1.55 percent decrease, the Banking and Consumer Goods indices followed with respective declines of 0.52 percent and 0.30 percent, while the Industrial Goods index fell by a marginal 0.09 percent,” the Cordors update affirmed.

At the end of today’s session on the Nigerian bourse, market breadth bleed profusely recording nine (9) gainers and 42 losers, according to the NSE daily market statistics.

Drugmaker, Neimeth International Pharmaceutical Plc emerged top gainer with a gain of 0.11 kobo per share; while Nigeria’slargest and first Indigenous Book Publisher, University Press Plc for the second straight day topped the losers chart with a loss of 0.60 kobo per share.

In terms of turnover, volume traded climbed up by 49.14 percent to 310.34 million shares valued at N6.12 billion and traded in 3,659 deals.

“We expect the losses to continue tomorrow as sell-offs gained momentum approaching the close of market,” The Cordros report said.