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Bearish Trend Continues As Equities Market Declines By N1bn

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The Nigerian equities market yesterday closed trading activities with a loss of N1 billion, to extend the negative sentiment to four trading sessions. The

The Nigerian equities market yesterday closed trading activities with a loss of N1 billion, to extend the negative sentiment to four trading sessions.In summary, the All-Share Index declined by 0.65 absolute points, representing a drop of 0.002 per cent, to close at 37,857.24 points. Similarly, the overall market capitalisation value shed N1 billion to close at N19.724 trillion.

Analysts at Afrinvest Limited said: “In the next trading session, we expect the domestic bourse to extend bearish performance due to selling pressure in the market.” NPF Microfinance Bank rose by 6.88 per cent to close at N1.71, while Lasaco Assurance gained 6.67 per cent to close at N1.60, per share. On the other hand, Ikeja Hotel led the losers’ chart by 9.09 per cent to close at N1.40, per share.

 

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