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Nigerian stocks shed N749.8 billion as investors dump bank shares - Premium Times Nigeria

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Nigerian stocks shed N749.8 billion as investors dump bank shares

Nigerian stocks capped a bearish week with depreciation worth N749.8 billion on Friday as the main equity index shed 1.21 per cent, a retreat triggered by sell-off in bank shares.

MTN Nigeria contributed most to the plunge with support from big lenders like Zenith, GTCO, Access Corporation and FBN Holdings.Since the beginning of the year, the index has returned 21.2 per cent.Ellah Lakes led advancers, appreciating by 8.40 per cent to N4. UACN climbed up by 6.48 per cent to N11.50. Livestock added up 6.12 per cent to end trade at N1.56.

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Nigerian stocks hit 22-day low as investors’ risk appetite wanes - Premium Times NigeriaThe all-share index was down by 364.31 basis points at 52,411.09, while market capitalisation fell to N28.3 trillion.
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