Investors sell off Airtel Africa after listing as market sheds 0.21%

The Nigerian equity market reversed yesterdays uptrend shedding 0.21 per cent, driven by a huge sell-off in the shares of Airtel Africa Plc. Similarly, market breadth closed negative, with 15 gainers as against 17 losers.

The All Share Index (ASI) decreased by 61.42 absolute points, representing a decline of 0.21 per cent to close at 29,256.60 points. Similarly, the Market Capitalization lost N29.93 billion, representing a dip of 0.21 per cent and closed at N14.26 trillion.
NPFMCRFBK emerged the top gainer while FO emerged as top loser.
The downturn was impacted by losses recorded in large and medium capitalized stocks, amongst which are; AIRTELAFRI (-9.99%) CONOIL (-9.93%), BERGER (-1.41%), WAPCO (-1.09%), TRANSCORP (-0.98%), UACN (-0.83%), and DANGCEM (-0.69%). (NAN)