Nigerian stocks end two-day rally with N66bn loss

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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Selling pressure on MTN, banks reverses Nigerian stocks one-day rallyThe all-share index slipped 709.72 points.
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Banks lead retreat as Nigerian stocks end seven-day gaining streakThe all-share index slid 13.04 points, closing at 39,305.48.
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Nigerian stocks creep back to positive territory as big-cap stocks lead rallyThe benchmark index rose by 0.63 per cent.
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Nigerian stocks deepen loss by N193 billion amid sell pressure on bank stocksProfit-taking in the shares of Zenith, GTB and Stanbic accounted most for the decline.
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