Stocks move further south as investors take profit

Expectedly, Nigeria’s equities market furthered its losing streak on Tuesday by 0.12 percent or N36billion as investors continued to take profit on counters that rallied recently.

Wema Bank led the league of laggards after its share price moved down from preceding day high of N4.30 to N4.04, losing 26kobo or 6.05percent. UPDC, another top laggard dropped from a high of N1.03 to 96kobo, losing 7kobo or 6.80 percent.

At the close of trading session on Tuesday, the Nigerian equities market year-to-date (YtD) return stood lower at 8.73percent.

Read also: Banks raise FX school fees request time, cut BTA, PTA

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding trading day’s 55,788.37 points and N30.391trillion respectively to 55,722.90 points and N30.355 trillion.

Sterling Bank, Neimeth, Zenith Bank, Chams and United Capital were most traded stocks on Tuesday as investors in 3,898 deals exchanged 199,268,791 shares valued at N2.813billion.

Skip to toolbar