The All Share Index (ASI) fell by 1,041.14 points, representing a decrease of 1.96 per cent to close at 51,952.99 points. . Accordingly, investors lost N569 billion in value as market capitalisation declined to N28.300 trillion.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Airtel Africa, Lafarge Africa, UAC of Nigeria (UACN), Nigerian Breweries and Fidson Healthcare.
This week, United Capital Plc said: “we expect the bearish sentiments to continue in the market, supported by the illiquidity in the financial system. Subsequently, investors may favour the fixed-income market over the equities market.
