Stocks Lose N3.64trn As Bearish Sentiment Resurfaces

The Nigerian equities market reversed two sessions of gains, declining by N3.637 trillion as widespread profit-taking resurfaced across the bourse.
The All-Share Index (ASI) lost 5,668.65 points, representing a loss of 2.35 per cent to close at 235,074.54 points. Also, market capitalisation shed by N3.637 trillion to close at N150.847 trillion.
The decline was driven by price depreciation in large and medium capitalised stocks, amongst which are: Dangote Cement, Geregu Power, BUA Cement, Custodian Investment and Zenith Bank.
On market performance, APT Funds & Securities Limited said that the session was characterised by broad-based selling pressure and weaker market turnover, as inv...