Nigerian shares shed N12 billion after promote-off in bank shares


Zenith led the lunge supported by GTCO, and Union Bank.

Nigerian shares weakened by 0.05 per cent on Tuesday, taking a bashing from merchants’ threat-off disposition to bank equities, signalling the 2nd loss in a row the bourse would document this week.

Zenith led the lunge supported by GTCO, and Union Bank. Wi-fi provider MTN Nigeria presented it would commence its initial public providing on Wednesday, where it would welcome subscription from retail merchants for 575 million regular shares for a length of two weeks.

Market breadth, the barometer for measuring the level of merchants’ sentiment in direction of alternate, closed within the unhealthy, with 24 losers reported, relative to 12 advancers.

The all-part index shed 22.89 foundation aspects to shut at 43,248.05, while market capitalisation edged down to N22.57 trillion.

The index has been down by 4.47 per cent for the explanation that commence of the year.


AIICO led gainers, appreciating by 9.21 per cent to shut at N0.83. Entry added up 4.40 per cent to total alternate at N9.50. WAPIC gracious by 4.17 per cent to N0.50. ETI rose to N8.35, notching up 3.73 per cent. fcmb completed the close 5, rock climbing up by 3.33 per cent to N3.10.


UPDCREIT topped the losers’ chart on the present time, declining by 9.89 per cent to shut at N4.10. Ikeja Hotel shed 9.63 per cent to total alternate at N1.22. UPDC fell to N1.07, shedding 9.32 per cent. Chams slumped to N0.20, recording 9.09 per cent depreciation. Union Bank closed at N4.55, going down by 6.19 per cent.

READ ALSO: NSE: Adverse sentiment persists as shares shed N82 billion


In total, 224.9 million shares valued at N3.7 billion were traded on the present time in 4,331 deals.

Entry modified into as soon as the most lively inventory with 42.2 million of its shares worth N389.7 million traded in 200 deals. Zenith had 39 million shares, priced at N935.4 million, substitute fingers in 437 transactions. FBN Holdings traded 16.9 million shares valued at N198.7 million in 258 deals. GTCO traded 16.7 million shares estimated at N414 million in 416 transactions. AIICO traded 12.9 million shares valued at N10.5 million in 201 deals.

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