By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) bleed further on Tuesday as all-share index (ASI) plunged 1.39 percent on sell-offs to close at 28,807 points, while market capitalisation dipped by 1.13 percent to N9.90 trillion.

With this trend, current market Year-to-Date (Y-t-D) and Month-to-Date (M-t-D) returns at the Nigerian bourse stands at a negative 16.88 percent and 4.55 percent respectively.

Cordros daily market update says that four (4) of the five (5) NSE Sectoral indices recorded losses. “The Consumer Goods index led the losers chart with a 2.37 percent decline, while the Banking index followed with a 2.26 percent decline, the report affirmed.

Similarly, the Oil/Gas index also declined by 0.88 percent while the Industrial index lost 0.30 percent, the Insurance index remained unchanged.

At the close of today’s trading on the Nigerian bourse, market breadth worsened recording six (6) gainers, 33 losers’ equities and three (3) losers Exchange Traded Funds (ETFs).

Lender, Fidelity Bank Plc emerged top gainer with a gain of 0.06 kobo per share; while Oil services firm, CavertonOffshore Support Group (COSG) Plc topped the losers table with a loss of 0.38 percent per share.

In terms of turnover, volume traded on the Nigerian equities market grew by 134.36 percent to N604.02 million shares, valued at N2.92 billion and traded in 4,088 deals.

“We expect a decline in tomorrow’s trading session,” the Cordros update affirmed.