Nigerian stocks end two-day rally with N66bn loss
Nigeria, Feb. 25 -- Nigerian stocks ended their short-lived rally Thursday with an 0.31 per cent decline, as bank equities led a N66 billion drawback that obliterated the feeble gains reported on Tuesday and Wednesday.
The benchmark index fell to 40,095.49 points while market capitalisation contracted to N20.978 trillion at the end of trade.
Nigerian Breweries joined big lenders Zenith, UBA, Access as well as investment banking company United Capital in the biggest losses.
The banking index, worst hit by the depreciation, went down 1.44 per cent to 384.62 points.
Market breadth was positive with 26 gainers emerging against 14 losers.
Year to date, the index is down by 0.44 per cent.
TOP FIVE GAINERS
Chams led the flock of gainers, ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.