The Nigerian bourse on Thursday sustained its bearish run for the fourth consecutive day with a loss of N20 billion, due to sell-offs across large capitalised stocks.
Specifically, the market capitalisation which opened at N10.880 trillion lost N20 billion to close at N10.860 trillion.
Similarly, the All-Share Index closed lower at 26,896.25 losing 70.16 points or 0.24 per cent compared with 28,896.25 recorded on Wednesday.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Julius Berger, Zenith Bank, Caverton Offshore Support Group, UACN and Nigerian Breweries.
Analysts at United Capital Limited stated that “The major reason for the relatively lacklustre performance by the NSE can be attributed to lack of foreign interests, most likely as a result of uncertainties around the current administration as regards the team it will employ to implement its policies.
Additionally, inactivity at…
