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Sell pressure on high cap stocks drags indices further by N64 billion

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“We expect the bearish sentiment to persist for the rest of the week.”

Specifically, at the close of trading yesterday, the All-Share Index decreased by 162.12 absolute points, representing a dip of 0.71 per cent to close at 22,543.07 points. Similarly, the overall market capitalisation size shed N84 billion to close at N11.748 trillion

Market breadth closed positive, with 27 gainers versus 12 losers. Access Bank, Lafarge Africa and United Capital recorded the highest price gain of 10 per cent, to close at N6.05, N11.00 and N2.42, per share, respectively. On the other hand, Dangote Cement and NASCON led the losers’ chart by 10 per cent each, to close at N137.70 and N8.55, respectively per share. Ardova Plc followed with a decline of 9.80 per cent to close at N13.80 per share while CAP Plc fell by 9.77 per cent to close at N18, per share.

 

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