By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE) – Overall equities market performance measures, the Nigerian Stock Exchange all-share index (NSE ASI) and market capitalisation, fell by 0.17 percent to 26,201.60 points on sustained bearish activity.

“Today’s negative performance increased the Year-to-Date loss to 2.50 percent,” according to Cordros daily market update.

The update says the Consumer Goods and Industrial Goods indices declined 0.29 percent apiece, owing to respective losses recorded in the shares of food and beverage producer, Nestle Nigeria Plc and brewer, Nigerian Breweries Plc both losing by 0.40 percent and 0.42 percent. Cement manufacturer, Dangote Cement Plc and paint producer, Berger Paints Nigeria Plc both depreciating by 0.40 percent and 5.00 percent each.

On the positive, the Banking, Insurance and Oil & Gas indices all appreciated by 0.39 percent, 0.42 percent and 0.10 percent respectively, following demand in the shares of top tier lender Zenith Bank Plc, reinsurer, Continental Reinsurance Plc and Mobil Nigeria Plc all gaining by 0.25 percent, 4.46 percent and 1.34 percent apiece.

At the close of the session on the domestic bourse, market breadth was neutral, with 19 gainers and losers recorded apiece, according to data from the NSE.

UACN Property Development Company Plc emerged the top gainer with a gain of 0.13 kobo per share, while lender, Diamond Bank Plc topped the losers table with a loss of 0.10 kobo per share.

In terms of turnover, total volume traded on the Nigerian equities market declined by 50.24 percent to 196.47 million shares, valued at N2.61 billion, and exchanged in 3,317 deals.

“We expect the bearish sentiment to persist in tomorrow’s session,” the Cordros update affirmed.