Renewed sell pressure on the trading floor of the Nigerian Stock Exchange (NSE), yesterday, reversed four-days bullish run, causing the All-share index to dip by 1.09 per cent.
Yesterday, investors embarked on massive profit taking to recoup their investment, following the few days of capital appreciation and market upbeat.Specifically, at the end of transactions yesterday, the All-share Index (NSE-ASI) shed 404.95 absolute points, representing a decline of 1.09 per cent to close at 36,612.83 points. Also, the market capitalisation declined by N147billion to close at N13.263trillion.
The decline was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, International Breweries, Chemical and Allied Products (CAP), Dangote Cement, and Nigerian Breweries.