By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-the Nigerian Stock Exchange (NSE) on Wednesday recorded its biggest loss since April 8, 2015 as all-share index (ASI) dipped 1.77 percent to close at 32,863.43 basis points –also its lowest value since 31 March, while market capitalisation lost N202.57 billion to close at N11.22 trillion.

This led to the bullish momentum halting as widespread sell-offs led the current market Year-to-Date (Y-t-D) returns to s negative 5.18 percent; while the decline pared the Week-to-Date (W-t-D) gain to 0.03 percent, according to Cordros daily market update.

The Cordros update said at the close of today’s session, all the sectoral indices declined from yesterday. “The Industrial Goods recorded the worst performance as profit taking in DANGCEM led the index to a 1.45 percent drop,” the report added.

It reported the Banking and Consumer Goods indices followed with respective losses of 1.02 percent and 0.91 percent while the Oil/Gas and Insurance indices dropped by 0.42 percent and 0.29 percent respectively.

At the close of business on the Nigerian bourse, market breadth posted a negative outlook, worsening with a record of only 13 gainers and 39 losers.

LivestockFeeds Plc led the gainers chart with a gain of 0.10 kobo per share, while Drug producer, Neimeth International Pharmaceutical Plc emerged the top losers with a loss of 0.11 kobo per share to close the day.

In terms of turnover, volume traded on the Nigerian equities market increased by 20.48 percent to 323.56 million share valued at N4.73 billion and traded in 4,090 deals.

“Though we acknowledge the attractiveness of prices at current levels, the mounting headwinds and lack of a positive catalyst are likely to keep weighing on investor appetite,” Cordros report affirmed.