NSE: Negative sentiment persists as stocks shed N82 billion

Nigerian stocks were down N82.345 billion or 0.40 per cent on Thursday as speculators continued profit-taking efforts after that saw Presco, the five big banks and Enamelware drive the loss.

Huge sell pressure on insurance stocks, which caused the Insurance Index to slide 4.04 per cent to 190.51 points, also contributed to the downtrend. A negative market breadth was recorded with 47 losers reported against 12 gainers. The All Share Index eased to 39,364.67 points and market capitalisation dropped to N20.596 trillion.UPL led gainers, appreciating by 9.91 per cent to close at N1.22. Morison went up 9.09 per cent to N0.60. CAP rose to N20, notching up 5.26 per cent in the process. WAPCO added 3.59 per cent to end today’s trade at N20.20. Livestock completed the top five, climbing by 3.17 per cent to N2.28.

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