NSE: Increasing profit-taking in bank stocks drive N67bn retreat

The Nigerian shed N67.178 billion or 0.33 per cent Thursday, following investors’ efforts to recoup gain yielded by bank shares in a rout that worsened the current bear run in the market.than other stocks on the bourse, dragging the banking index down by 3.62 per cent to 356.30 basis points.

Twenty seven gainers emerged against 13 losers, which made the market to close with a positive breadth. The all-share index narrowed by 128.39 points to 38.916.74, while market capitalisation closed at N20.361 trillion.UACN appreciated by 10 per cent to close at N9.90. Royal Exchange went up by 10 per cent to N0.33. Japaul Gold rose to N0.45, notching up 9.76 per cent in the process. Cutix added 9.31 per cent to end today’s trade at N2.23. Linkage Assurance completed the top 5, climbing by 9.09 per cent to N0.72.GTB led losers, declining by 8.83 per cent to close at N29.95. FTN Cocoa shed 8.

UACN was the most active stock, trading 37.375 million units worth N370.010 million in 70 deals. 25.915 million units of Transcorp shares priced at N20.877 million exchanged hands in 90 transactions.

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