By Chinyere Joel-Nwokeoma
The Nigerian equities market closed lower on Thursday with further decline of 1.33 per cent to extend losing streak to five consecutive transactions days.
The News Agency of Nigeria (NAN) report that the All Share Index (ASI) was down by 411.92 absolute points, representing a decrease of 1.33 per cent, closing at 30,611.55 against 31,023.47 achieved on Wednesday.
Similarly, the market capitalisation decreased by N150 billion or 1.33 per cent to close at N11.175 trillion compared with N11.325 trillion.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are: Dangote Cement, Guaranty Trust Bank, Cadbury Nigeria, United Bank for Africa (UBA) and FBN Holdings.
Analysts at Afrinvest Limited said: “Although, we observed a bearish performance since the beginning of the week, we expect an uptick in market trading session in days ahead, as investors seek to increase…