By Chinyere Joel- Nwokeoma
The Nigerian equities market sustained negative trend on Wednesday with the market indices dropping marginally by 0.02 per cent.
Speficially, the All-Share Index dipped 4.55 points or 0.02 per cent to close at 29,458.21 compared with 29,462.76 recorded on Tuesday.
Similarly, the market capitalisation lost three billion naira or 0.02 per cent to close at N15.173 trillion against N15.176 trillion achieved on Tuesday.
The downturn was impacted by loses recorded in medium and large capitalised stocks, amongst which are, Julius Berger, Flour Mills of Nigeria, NASCON, Lafarge Africa and Zenith Bank.
Capital market analysts attributed the decline to profit taking embarked by investors on highly capitalised equities.
Analysts at Afrinvest Limited expected bargain hunting to dominate the market in the near term.
The market breadth closed with 15 gainers and 18 losers.
Law Union and Rock Insurance dominated the gainers’ table in…
Source: News Agency of Nigeria