Equities Market Closes Negative, Down By N168bn
The Nigerian equities market yesterday closed on a negative note with selloffs in Julius Berger Plc and 23 others triggering N168 billion loss.
The All-Share Index (ASI) shed 296.50 points, representing a decline of 0.28 per cent to close at 104,256.81 points. Also, market capitalisation dipped by N168 billion to close at N58.948 trillion.
The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Julius Berger, FBN Holdings (FBNH), Vitafoam Nigeria, Berger Paints and Transnational Corporation (Transcorp).
Analysts at Afrinvest Limited said: ‘Tomorrow, we anticipate an extended bearish performance as the market remains short of a positive trigger.’
Investor sentiment, as measured by market breadth, closed positive as 29 stocks advan...