The Nigerian All share index closed trading today with a 2.2% loss as stocks fell under significant sell pressures. The All share index closed at 34,921.79 posting its first loss after 10 days of non stop gains.
The market seemed primed for profit taking when during pre-market, most stocks attracted more offers than bids which is indicative of a bearish session. The “Bull-hari” effect at this stage looks to be abating as the market bounce seems to have lost pace. Last week, most stocks attracted higher bids as investors waiting on the sidelines in anticipation of the election results poured cash into the stock market.
It appears now that profit taking is in full swing suggesting that the market is yet to fully retain investor appetite long enough to retain value.
See the full price list in descending order below;