Sell-offs in Banking, Insurance stocks dips market further by 0.1 per cent


Bearish sentiments persist at the Nigerian Exchange Limited (NGX), on Tuesday, amid sell-offs in banking and insurance stocks.

Consequently, the NGX All Share Index (ASI) ended the session 0.08 per cent lower at 38,256.76 basis points, just as the market’s worth closed at N19.94 trillion, having lost N16.07 billion.

Accordingly, Month-to-date and Year-to-Date losses increased to -4.0 per cent and -5.0 per cent, respectively.

Specifically, share prices of tickers such as Guaranty Trust Bank, Lasaco Insurance, FBN Holdings and AIIXo Insurance contributed to the overall negative outing at the local bourse as they declined by 1.21 per cent, 7.14 per cent, 1.38 per cent and 4.96 per cent…

Source: Nigerian Tribune