Friday, March 5African Business News
Shadow

Tag: BUA CementFlour Mills of Nigeria

Sell-pressure drags index further by 0.27%

Sell-pressure drags index further by 0.27%

Capital Market
Transactions on the Nigeria Stock Exchange reopened on a negative note yesterday, occasioned by sell pressure in most blue-chip companies, causing the All-Share Index (ASI), to slip by 0.27 per cent. Yesterday, the ASI decreased by 77.82 absolute points, a 0.27 per cent fall to close at 28,337.49 points. Similarly, the overall market capitalisation lost N40 billion to close at N14.812 trillion. The downtrend was impacted by losses recorded in large and medium value stocks, including Flour Mills of Nigeria, BUA Cement, MTNN, International Breweries, and Africa Prudential. Analysts at United Capital Plc predicted that “the momentum would be sustained considering the huge liquidity in the system coupled with fewer investment alternatives. However, we do not overrule the place of pr...