Sell-offs in bellwethers pull market indices, shed N103b | The Guardian Nigeria News - Nigeria and World News

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Following sell-offs in high cap stocks, transactions on the Nigerian Stock Exchange, continued southward yesterday, resulting to a further decline in market capitalisation by N103 billion. Nigeria NSE

Also, the All Share Index fell by 210.98 points or 0.79 per cent to 26,598.94 points. Accordingly, investors lost N103 billion in value as market capitalisation declined to N12.948 trillion.

But he expects the mixed trend and patterns to reduce selloffs, as bargain hunters take advantage of the pull-back to position ahead of quarterly scorecards, especially now that the NSE-ASI recently tested a new low and rebounded same day, a good sign of imminent reversal if supported by positive sentiments, while the interplay of market forces determine direction.

 

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