190712: All Share index retraces by -0.77%, after hitting overbought region
Today, equity market closed in the red zone to halt the six-day rally as the bears re-surfaced with renewed sell pressure witnessed across the main board while the -2.16% losses recorded in the share price of Dangote Cement Plc, market leader by capitalisation, also contributed to the outlook witnessed.
Nevertheless, the key benchmark indices retraced as sentiments turned negative, taking hits majorly from Medium CAP stock which was particularly driven by FCMB while Large CAP stocks also contributed to the outlook recorded today due to renewed selling activities witnessed in Industrial Goods and Financial Services sectors.
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