Business
Nigerian equity market resumes holiday on bearish note
Following the mid-week holiday declared by the federal government for the celebration of end of Ramadan, the equity market resumed bearish to extend the negative sentiment to four consecutive trading days, with All Share Index (ASI) shedding 1.30%. Market breadth closed negative, recording 23 gainers and 16 losers.
The All Share Index (ASI) shed 403.32 absolute points, representing a decline of 1.30% to close at 30,527.07 points. However, Market Capitalization lost N179.13 billion, representing a dip of 1.31% to close at N13.44 trillion as a result of equity price adjustment of Dangote Cement Plc and Forte Oil Plc for 2019 dividends as recommended by their respective board of directors.
JBERGER emerged the top gainer while THOMASWY emerged as top loser.
The downtrend was impacted by losses recorded in large and medium capitalized stocks, amongst which are; WEMABANK (-3.23%), UBA (-2.36%), GUARANTY (-1.92%), DANGFLOUR (-1.20%), and UNILEVER (-0.16%). (GTI)