Negative sentiments persisted on the equities sector of the Nigerian Exchange Limited , as the All Share Index declined further by 0.1 per cent, amid selloff in 21 stocks.Negative sentiments persisted on the equities sector of the Nigerian Exchange Limited , as the All Share Index declined further by 0.1 per cent, amid selloff in 21 stocks.
The downturn was driven by price depreciation in large and medium capitalised stocks amongst, which are; United Capital, Dangote Sugar Refinery, United Bank for Africa , NASCON Allied Industries and Access Holdings. Vetiva Dealings and Brokerage, said: “We anticipate further sell-side pressures across the market, amid pockets of demand in select names as investors react to their half-year performances.”
On the other side, Secure Electronic Technology led others on the losers’ chart with 9.43 per cent to close at 48 kobo. R.T. Briscoe Nigeria followed with a decline of 8.22 per cent to close at 67 kobo, while UBA shed 5.07 per cent to close at N21.55 kobo.
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