Banking, oil & gas sectors reverses Nigerian equity market uptrend, dips 0.22%

Stockbrokers during a trading session at the NSE

The Nigeria equity market on Monday shed 0.22%, halting positive momentum which began last week Thursday.

The decline was impacted by sell off in the banking and oil/gas sectors of the equity market. Conversely, market breadth closed positive, recording 26 gainers against 17 losers.

The All Share Index (ASI) shed 212.85 absolute points, representing a decrease of 0.22% to close at 29,495.91 points. Similarly, Market Capitalization declined by N79.95 billion representing a dip of 0.22% to close at N11.08 trillion.
INITSPLC emerged the top gainers while ABCTRANS emerged as the top losers.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; UBA (-4.62%), FBNH (-3.33%), FLOURMILL (-2.67%), DANGCEM (-1.59%), OANDO (-1.02%), HONYFLOUR (-0.84%), and NESTLE (-0.26%). (GTI)