Home Business Investors’ Profit-taking in Zenith bank, GTBank, UBA Down Equities Market by N11bn

Investors’ Profit-taking in Zenith bank, GTBank, UBA Down Equities Market by N11bn

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The Equities market dips further into the trading week by 0.08 per cent as investors’ sell-off Tier-1 banks shares listed on the Nigerian Stock Exchange (NSE).

The NSE All-Share Index dropped to 27,547.56 basis points on Tuesday from 27,570.94 basis points it closed on Monday.

Consequently, the Month-to-date loss increased to 4.4per cent, while the Year-to-Date gain moderated to 2.6per cent.

The market capitalization was capped at N14.347trillion on Tuesday, dropping N11 billion from N14.358 trillion the market closed the previous day.

On sector performance, the Banking (-0.5per cent) and Consumer Goods (-0.01per cent) indices declined, while the insurance (+0.2per cent) index gained. The Industrial Goods and Oil and Gas indices closed flat.

Our correspondent gathered that share price of FBN Holdings depreciated by 2.52 per cent to close at N5.80 from N5.95 while United Bank for Africa plc witness a decline of 1.95 per cent to N7.55 from N7.70 the market closed on Monday.

Guaranty Trust Bank plc also depreciated by 0.52 per cent to N28.85 from N29 as zenith Bank plc’s share down by 0.51 per cent to close at N19.50 from N19.60 it closed on Monday.

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