All the five big banks except First Bank Holdings led a retreat that lengthened a slump in Nigerian stocks into the second day, wearing down the all-share index by 0.57 per cent., UBA, Zenith Bank and GTB took a hit from profit-taking actions, setting up a fall in the banking index by 0.84 per cent.
A floodgate of full-year earnings report releases, apparently targeting the March-end deadline, turned out largely negative, rattling investors and compounding losses.Shedding 221.98 points, the benchmark index finished at 39,045.13 points, while market capitalisation depreciated to N20.429 trillion.Linkage Assurance led the flock of gainers, appreciating by 10 per cent to close at N0.66. Meyer added up 9.76 per cent to end trade at N0.45. Prestige went up 9.76 per cent to N0.45. NEM gained 9.