Banking stocks losses dip market further by 0.3 per cent


Negative sentiments persist as the All Share Index (ASI) of the Nigerian Stock Exchange (NSE) further dips by 0.28 per cent at the close of trading activity at the local bourse on Wednesday.

The bears continued to dominate at the Exchange as selloffs in major Banking stocks persisted. Market capitalisation depreciated to N13.36 trillion after losing N36.78 billion. Thus the Month-to-Date gain moderated to 0.4 per cent while Year-to-Date loss increased to -5.3 per cent.

Specifically, Zenith Bank Plc and Access Bank Plc shares shed three per cent each just as the share value of United Bank for Africa Plc depreciated 3.2 per cent.

Overall performance review for the day indicated that the…

Source: Nigerian Tribune