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NSE: Market extends loss amid sell pressure on bank stocks

Sell pressure on bank stocks accounted most for the fall by N68.427 billion in the market value of the equities segment of the Nigerian Stock Exchange (NSE) Friday.

The Banking Index, by reason of the price slump in the shares of GTB and ETI, emerged the day’s worst performing sectorial index, dropping 2.48% to 340.01 basis points.

Market breadth was positive with 21 losers emerging against 11 losers.

The All Share Index (ASI) slid by 0.46% to 28,415.31 basis points and market capitalisation declined to N14.852 trillion at the end of trade.

Year to date, the index is up by 5.86%.


Eterna led the flock of gainers, appreciating by 10% to close at N3.63. Tranex added 9.52% to end today’s trade at N0.92. Cornerstone went up by 9.09% to N0.60. Total rose to N102, notching up 5.37% in the process. International Breweries completed the top 5, climbing by 3.06% to N4.72.

READ ALSO: NSE: Industrial and oil & gas stocks drive N46bn loss


PZ was the worst performing stock, declining by 8.89% to close at N4.10. Regal Insurance fell to N0.23, losing 8%. Union Diagnostic dipped to N0.24, recording 7.69% depreciation. Unity Bank shed 6.56% to close at N0.57. Law Union and Rock closed at N1.10, going down by 5.17%.


384.145 million shares estimated at N3.999 billion were traded in 5,759 deals.

Caverton was the most active stock with 52.158 million units of its stocks worth N93.790 million traded in 73 deals. 49.874 million units of Zenith shares priced at N1.001 billion exchanged hands in 660 transactions. FBN Holdings traded 49.325 million shares estimated at N306.664 million in 344 transactions. GTB traded 32.622 million shares valued at N1.022 billion in 588 deals. Access had 27.169 million shares valued at N215.185 million traded in 302 deals.

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