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Nigeria’s stock market closes week on negative note

Nigeria’s equities market closed the trading week to Friday September 10 on a negative note following successive sessions of profit taking activities on the Bourse.

The market could not reverse the trend despite that investors started to take up position in some fundamentally sound stocks with beaten down prices.

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The NGX All-Share Index (ASI) and Market Capitalization depreciated by 0.86percent to close the week at 38,921.78 points and N20.278trillion respectively, from highs of 39,261.01 points and N20.456 trillion at the beginning of the review week. This implies that investors lost about N178billion at the close of the week’s trading session.

Analysts expected this dismal performance on the Nigerian Exchange Limited (NGX) to filter into Monday’s trading session with the possibility of the market recording mixed trading sessions.

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