Stock Market Falls Lower by 0.47% amid Renewed Bearish Activity

Equity market closed Wednesday’s trading with the All Share Index (ASI) dwindling by 0.47 per cent amid renewed profit taking activity even as the exchange recorded equal numbers (19) of gainers and Losers.  The year to date loss of the NSE worsened to 6.06 per cent.

Specifically, Tickers such as ZENITHBANK, UACN and BUACEMENT plunged by 1.78 per cent, 9.09 per cent and 3.94 per cent  respectively as investors booked profit.

NSE Banking, NSE Consumer Goods and NSE Industrial indices tanked by 0.14 per cent, 0.27 per cent and 2.54 per cent respectively.

On the flip side, the NSE Insurance and NSE Oil/Gas Indices rose by 1.44 per cent and 0.20 per cent respectively.

However, market activity was upbeat weak as N1.6 billion worth of GTBank shares exchanged hands, increasing the value of stock traded by 186.9 per cent to N3.13 billion.