By Goddy Egene
The depreciation recorded in the share prices of companies such as Dangote Cement Plc, Flour Mills of Nigeria and Nigerian Breweries Plc pushed the market into the negative territory Wednesday after rebounding Tuesday.
Bellwether counters had lifted the market Tuesday but that positive performance could not be sustained on Wednesday as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 0.46 per cent to close lower at 32,963.27. Market capitalisation shed N55.2 billion to be at N12.0 trillion.
A total of 23 stocks depreciated as against 17 that appreciated.
“We attribute the losses recorded today to prevailing negative sentiment across all sectors asides the banking sector. Nonetheless, we expect a positive close to the market at the end of the week, as investors take advantage of the low prices across the various…
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