NGX: Capitalisation drops further by N6bn



Negative sentiments continued on the nation’s bourse on Wednesday with the market capitlisation dropping further by N6 billion following sell pressure of some blue chips.

Speficially, the market capitalisation lost N6 billion or 0.03 per cent to close at N20.210 trillion compared with N20.216 trillion achieved on Tuesday.

In the same vein, the All-Share Index dipped 11.12 points or 0.03 per cent to close at 38,791.03 from 38,802.15 recorded on Tuesday.

Accordingly, the month-to-date gain stood at 2.3 per cent, while the year-to-date loss remained flat at 3.7 per cent.

The negative performance of the market was driven by price depreciation in large and medium capitalised stocks amongst which are; Eterna, Zenith Bank, Vitafoam Nigeria, Pharma-Deko Plc and United Bank for Africa.

Analysts at Afrinvest Ltd. predicted that the sell pressure would persist as investors adjusted their holdings in the light of the new policy of the Central Bank of Nigeria halting supply…

Source: Vanguard Newspaper

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