Sell-offs in MTN Nigeria, alongside tier-one banking stocks, on Tuesday shed 0
Market breadth closed positive with advancing 16 stocks outnumbering 13 declining ones.
The market’s weak performance was due selloffs in the shares of Zenith Bank and United Bank for Africa(UBA).
The negative performance was driven by price depreciation in large and medium capitalised stocks.
The market capitalisation upgraded by N320 billion to close at N25.95 trillion in contrast with N25.63 trillion achieved on Tuesday.
The All-Share Index (ASI) gained 0.34 per cent to close at 47.367.31 points from 47.205.03 points posted on Tuesday.
Market sentiment was negative as 20 stocks depreciated in price while 13 constituted the gainers’ chart.
Similarly, the market capitalisation declined by 0.02 per cent to N25,52 trillion from N25,53 trillion, making a decrease of N1 billion.
The market capitalisation rose by N30 billion on Wednesday.
