Nigerian stocks deepen loss on profit-taking in WAPCO, MTN, Zenith

Nigerian stocks were down 0.44 per cent on Wednesday as the market remained downbeat, and investors put up volumes of shares for sale.A negative market breadth was recorded as 30 losers emerged against 16 gainers.

The All Share Index tapered by 0.44 per cent to 39,522.06 basis points. Market capitalisation declined to N20.678 trillion at the end of trade.Seplat led gainers, appreciating by 10 per cent to close at N583. Royal Exchange added up 5.22 per cent to end today’s trade at N1.21. Cornerstone went up by 5.17 per cent to N0.61. CAP rose to N0.84, notching up 5 per cent in the process. Royal Exchange completed the top 5, climbing by 4.35 per cent to N0.24.

fell to N1.85, losing 9.76 per cent. NPF Microfinance bank dipped to N1.72, recording 0.47 per cent depreciation. Japaul closed at N0.51, going down by 8.93 points.

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