Nigerian stocks halt gain in bank-led retreat

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Meyer, which announced an attractive dividend for shareholders, lost the most as the date for qualifying for the payout passed.

Nigerian stocks declined 0.04 per cent on Monday, the first retreat in five trading days, as the benchmark index took a blow from selling pressure on bank stocks.Positive market breadth was reported as there were 24 advancers against 18 laggards.

The all-share index shrank 13.93 basis points to 39,508.41, while market capitalisation closed lower at N20.6 trillion.SFSREIT led gainers, appreciating 9.96 per cent to close at N67.90. MRS went up by 9.92 per cent to N13.85. May & Baker rose to N4.83, notching up 9.77 per cent in the process. Honeywell Flour added 9.76 per cent to end trade at N2.25. Mutual Benefits completed the top 5, climbing by 8.82 per cent to N0.37.Meyer was the worst-performing stock, declining 66.

 

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