By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday commenced the week on a bearish note for the third consecutive Monday in a row, with the all-share index (ASI) shedding 0.38 percent to close at 25,244.65 points.

“Today’s performance increased the Month-to-Date and Year-to-Date losses to 3.04 percent and 6.07 percent respectively,” according to Cordros daily market update..

The report says at the close of the session on the Nigerian equities market, the Consumer Goods and Insurance indices closed lower by 2.31 percent and 0.18 percent each, owing to losses recorded by the shares of brewer, Nigerian Breweries Plc and insurers, NEM Insurance Plc and Axa Mansard Insurance Plc; the trio declining by 5.00 percent, 3.67 percent and 0.62 percent apiece

Conversely, the Banking, Industrial Goods and Oil & Gas indices gained by 0.31 percent, 0.59 percent and 0.21 percent respectively, on the back of buying interest in the shares of Guaranty Trust Bank Plc, Dangote Cement Plc and Forte Oil Plc all appreciating by 1.00 percent, 0.54 percent and 0.24 percent each.

At the close of the session on the domestic bourse, market breadth posted a negative outlook, with 15 gainers and 17 losers recorded, according to data from the NSE. Nigerian glass maker, Beta Glass Plc topped the gainers table with a gain of N1.65; while Salt refining company, NASCON Allied Industries Plc emerged the top loser with a loss of 0.37 kobo per share.

In terms of turnover, total volume traded declined by 29.65 percent to 141.92 million shares, valued at N1.38 billion, and exchanged in 2,386 deals.

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