Market indicators extend losing streak, drop 0.27 per cent

Transactions on the Nigerian Stock Exchange (NSE) maintained a downward trend for the fourth consecutive trading day with the market indicators extending its losing streak by 0.27 per cent.

The News Agency of Nigeria (NAN) reports that the market capitalisation on Thursday dipped N41 billion or 0.27 per cent to close at N14.953 trillion against N14.994 trillion on Wednesday.

Also, the All-Share Index (ASI) dropped 79.97 points or 0.27 per cent to close at 29,030.93 in contrast with 29,110.90 posted on Wednesday.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Lafarge Africa, UACN, BUA Cement, PZ Cussons and United Bank for Africa.

Analysts at Afrinvest Limited stated that “despite opportunities for bargain hunting in the…

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