Wednesday, April 14African Business News
Shadow

Tag: AfriInvest

Profit-taking drags stock indices further by N38 billion

Profit-taking drags stock indices further by N38 billion

Capital Market
Profit-taking continued to take a toll on the equities sector of the Nigerian Stock Exchange (NSE), extending negative sentiment to three consecutive trading days, causing market capitalisation to slide further by N38 billion. Yesterday, the All-Share Index (ASI) decreased by 72.41 absolute points, or 0.28 per cent to close at 25,424.91 points. Similarly, the overall market capitalisation shed N38 billion to close at N13.264 trillion. The downturn was impacted by losses recorded in large and medium capitalised stocks, amongst which are; Okomu Oil, Unilever Nigeria, Zenith Bank, C&I Leasing, and UAC of Nigeria (UACN). Analysts at Afrinvest Limited said: “We expect investors to take positions in sound blue-chips in subsequent trading sessions. Nevertheless, we expect the equ...