Negative sentiments persist at NSE as major index fell 0.99 per cent

Negative sentiments persist on the equities market on Friday, as major index dropped by 0.99 per cent.

Specifically, at the close of trading last week on the Nigerian Stock Exchange, the All-Share Index and market capitalisation fell by 0.99 per cent to close the week at 24,826.75, and N12.951tn, respectively.

All other indices finished lower with the exception of NSE-main board, NSE Meri Growth, NSE Consumer goods, NSE Lotus II and NSE industrial goods indices, which appreciated by 1.00 per cent.

Analysts and market observers linked the negative sentiments to rising COVID-19 cases in Nigeria and weak economic state of the country.

However, they expressed optimism of imminent rebound, noting that the current low prices of stocks may spur bargain-hunting this week.

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