Banking sector drags Nigerian stock market performance down 0.13%

The Nigeria equity market reversed the day’s positive sentiment, declining 0.13 per cent on the back of loss recorded by the banking sector.
The All Share Index (ASI) declined by 35.46 absolute points, representing a decline of 0.13 per cent to close at 27,646.15 points, while the Market Capitalization lost N17.26 billion representing a dip of 0.13 per cent to close at N13.46 trillion.
CHIPLC rose 10 per cent emerged top 22 other gainers, while UPL shed -8.70 per cent emerged as top loser among 15 others.
The downturn was impacted by losses recorded in large and medium capitalized stocks, amongst which are; FCMB (-4.00%), ACCESS (-3.25%), GUARANTY (-1.85%), ZENITHBANK (-1.81%), and UBA (-1.57%).
Investors exchanged 245.44 million shares valued at N1.67 billion in 3,450 deals as FBNH led both the activity and volume chart, trading 71.52 million units worth N390.06 million on Thursday.
The Nigerian equity market has shed -12.04 per cent in 2019.