Nigeria: Market Falls Marginally As Bulls Return

18 September 2013

The Nigerian equities market witnessed a marginal fall Tuesday indicating an imminent return of the bulls today, after four days of a bear run. A sell pressure induced by liquidity squeeze has kept the market in the bears' zone since last Thursday. The bearish trend extended to Monday when trading resumed for the week as the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 0.65 per cent.

However, the decline was lower yesterday with the ASI felling by 0.03 per cent to close at 36,851.38, from 35,861.88. Also the number of equities that appreciated outstripped those that depreciated; a development market operators said points to a likely bullish market today.

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