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Stock Exchange
The stock market extended losses to three consecutive sessions yesterday, causing market capitalisation to depreciate further by N12 billion.
At the close of transaction yesterday at the Nigerian Exchange Limited (NGX), the market capitalisation of listed equities declined by 0.06 per cent to N19.928 trillion from N19.940 trillion reported the previous day.
The All-Share Index (ASI) also depreciated by 23.13 basis points to 38233.68 points from 38256.76 points recorded on Tuesday.
Analysts at Afrinvest Limited said: “We expect the market to remain bearish in the next trading session due to the absence of a positive catalyst.” x
However, market sentiment, as measured by market breadth, was positive as 20 stocks appreciated in price while 14 others constituted the losers chart.