By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday opened the week on a negative note as all-share index (ASI) dipped 0.91 percent following declines across all key stocks, according to a Cordros daily market update.

The report says the NSE ASI closed at 30,807.54 basis points, while market capitalisation declined by N97.39 billion to close at N10.56 trillion.

With today’s loss current market Year-to-Date (Y-t-D) and Month-to-Date (M-t-D) returns on the Nigerian bourse stands at a negative 11.11 percent and 7.92 percent respectively.

“All of the five (5) NSE sector indices depreciated. The Banking index topped the losers’ list with a 1.70 percent drop, while the Insurance and Consumer Goods indices fell by 1.56 percent and 1.53 percent respectively. In addition, the Oil/Gas and Industrial Goods indices also lost 0.62 percent and 0.06 percent accordingly,” the Cordros update added.

At the close business on the Nigerian bourse, market breadth worsened with 12 gainers and 33 losers recorded.

Logistics solutions firm, Red Star Express Plc emerged the top gainer with a gain of 0.45 kobo per share; while paint manufacturer, Portland Paint & Products Nigeria Plc topped the losers chart with a loss of 0.25 kobo per share.

In terms of turnover, volume traded grew by 38.71 percent to 184.17 million shares, valued at N2.29 billion and traded in 3,557 deals.

“We see the bears continuing in tomorrow’s session as positive catalysts remain unseen,” Cordros update affirmed.