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Nigerian stocks deepen loss by N193 billion amid sell pressure on bank stocks

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Profit-taking in the shares of Zenith, GTB and Stanbic accounted most for the decline.

A negative market breadth was recorded as 24 losers emerged against 15 gainers.

The all-share edged down by 367.97 points to 39,433.81. Similarly, market capitalisation slipped, falling by N193 billion to N20.637 trillion at the end of trade.Lasaco led the flock of gainers, appreciating by 9.62 per cent to close at N1.71. Linkage Assurance added up 9.43 per cent to end today’s trade at N0.58. Caverton went up by 9.09 per cent to N1.92. Sterling Bank rose to N1.60, notching up 8.11 per cent in the process. Regal Insurance completed the top 5, climbing by 6.67 per cent to N0.

FBN Holdings was the most active stock with 111.872 million units of its stocks worth N643.188 billion traded in 262 deals. Access Bank shares of 40.879 million units, priced at N309.952 million exchanged hands in 388 transactions.

 

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