Nigerian stocks slide after sell-offs in WAPCO, Zenith, MTN shares

Nigerian stocks retreated Tuesday, shedding 0.08 per cent as investors dumped shares, particularly those of WAPCO, Zenith and MTN for sale.

The insurance index was worst hit by the drawback of the five sectorial indices tracked by the exchange, going down by 1.27 per cent.

Market breadth was nevertheless positive as 24 gainers emerged against 17 losers.

The all-share index inched down by 36.64 points to 39,801.78, while market capitalisation dipped to N20.830 trillion.

The index has lost 1.16 per cent so far this year.


Lasaco led the gainers, appreciating by 9.86 per cent to close at N1.56. Neimeth went up by 9.83 per cent to N1.90. International Breweries rose to N5.70, notching up 9.62 per cent in the process. Courteville added 8.70 per cent to end the trade at N0.25. Royal Exchange completed the top 5, climbing by 7.55 per cent to N0.57.


Linkage Assurance was the worst-performing stock, declining by 37.65 per cent to close at N0.53. WAPCO slumped to N20.05, recording 9.43 per cent depreciation. Regal Insurance shed 9.09 per cent to close at N0.30. Consolidated Hallmark fell to N0.36, losing 7.69 per cent. Sterling Bank…

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