By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) downward trajectory has persisted as all-share index (ASI) declined 0.63 percent to close Tuesday’s session 30,614.81 points, while market capitalisation shed by N66.06 billion to close at N10.49 trillion.

This is coming on the heels of sell-offs across all sectors of the Nigerian bourse; resulting to current market Year-to-Date (Y-t-D) and Month-to-Date (M-t-D) returns to stand at a negative 11.66 percent and 8.49 percent respectively.

Cordros daily market update says, all of the five (5) NSE sectoral indices declined. “The Banking index topped the losers’ list for the second consecutive session with a 1.73 percent drop, while the Oil/Gas and Consumer Goods indices lost 0.85 percent and 0.28 percent respectively,” the Cordros report said.

Similarly, the Insurance index dipped by 0.24 percent, while the Industrial Goods depreciated marginally by 0.01 percent.

Market breadth at the Nigerian bourse maintained a negative outlook, recording 13 gainers and 29 losers. Trans-Nationwide Express Plc emerged top gainer with a gain of 0.08 kobo per share; while insurer, NEM Insurance Plc topped the losers chart with a loss of 0.03 kobo per share to close today’s session.

In terms of turnover, volume traded grew by 191.48 percent to 536.83 million shares, valued at N4.91 billion and traded in 3,458 deals.

“We maintain a negative outlook for the coming session,” the Cordros report affirmed.