Nigerian stocks heaped up more loss on Tuesday in a trading session, where the benchmark index eased by 0.08 per cent, and GTB as well as FBN Holdings, two of Nigeria’s biggest lenders, drove a slide that came to N16 billion.
The banking index, which has been on a free fall for days on end by reason of waning investor confidence in bank equities, took a further hit as it dropped 0.47 per cent to 357.65 points, the weakest performance of the five sectorial indexes tracked by the Nigerian Exchange.
Rising from its rate decision meeting on Tuesday, the central bank held the key rate at 11.5 per cent, for at least a third time in a row, to consolidate economic growth and encourage a steady drop in inflation, which eased for the first time in 21 months last month.
The bourse posted a negative market breadth as 17 losers emerged against 12 gainers.
The all-share index was down by 30.82 points at 38,256.76 index, while the market capitalisation slowed to N19.940 trillion.
Since the start of the year, the index has been down 5 per cent.
TOP FIVE GAINERS
C&I Leasing topped the gainers’ chart, appreciating by 9.85 per cent to close at N4.46. Royal Exchange climbed up by 8.82 per cent to N0.74. Consolidated Hallmark added 7.27 per cent to end trade at N0.59. Neimeth advanced by 7.02 per cent to N1.83. The Initiates rose to N0.47, notching up 6.82 per cent in the process.
TOP FIVE LOSERS
Lasaco led laggards, declining by 7.14 per cent to close at N1.43. Champion Breweries shed 5.66 per cent to end today’s trade at N2. Lasaco fell to N1.15, losing 4.96 per cent. Chams slumped to N0.20, recording 4.76 per cent decline. Mansard closed at N0.86, going down by 4.44 per cent.
TOP FIVE TRADES
Altogether, 250.204 million shares valued at N1.552 billion were traded in 3,534 deals.
Courteville was the most active stock with 36.851 million of its shares worth N747.202 million traded in 56 deals. A total of 28.188 million units of Zenith Bank shares, priced at N649.411 million, changed hands in 275 transactions. Jaiz had 25.852 million shares valued at N14.831 million traded in 58 deals. Chams traded 16.098 million shares estimated at N3.220 million in 29 transactions. Sterling traded 13.677 million shares valued at N21.813 million in 133 deals.
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