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Nigerian stocks end two-day rally with N66bn loss

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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.Market breadth was positive with 26 gainers emerging against 14 losers.Chams led the flock of gainers, appreciating by 9.09 per cent to close at N0.24. Royal Exchange added 8 per cent to end today’s trade at N0.27.

Wema went up by 7.69 per cent to N0.70, following a 14.8 per cent revenue drop in its 2020 financials that also saw profit decline, in this case marginally by 2.7 per cent. Red Star Express rose to N3.30, notching up 5.77 per cent in the process. Prestige completed the top five, climbing by 4.55 per cent to N0.46.

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