Nigerian stocks extended their bear run on Friday, going down by 0.08 per cent, as investors continued to show more interest in selling their equities than owning them long term., GTB, Mansard and UCAP weighed on market performance more than it was on other laggards.
A negative market breadth was reported as there were 27 losers against 20 gainers at the end of trade. The oil and gas index took the heaviest battering of the five sectorial indices, declining by 5.31 per cent to 259.65 points as oil driller Seplat reported a single-day depreciation of as much as N803.072 million. This followed the firm’s abysmal 2020 financial performance that resulted in a N28.9 billion loss, compared to the N89.9 billion recorded in the same period of 209.Year to date, the index is down by 2.33 per cent.
Hmnn, wow!