Mass sell-off stretches Nigerian Equity Market downturn to three consecutive days

Stockbrokers at the floor of the Nigerian Stock Market

The Nigerian Equity Market extended it losses to three consecutive days at the close of the first trading week of the new year on the back of mass sell-off by investors.
The All Share Index (ASI) shed 132.42 absolute points, representing a 0.43 per cent dip, closing at 30,638.90 points on Friday.
Also, Market Capitalization shed N49.38 billion representing a 0.43 per cent drop, closing at N11.43trillion.
UPL added 8.63 per cent to emerge the 11 top gainers, while Diamond Bank shed -10 per cent to lead 28 losers.
Investors exchanged 82. 72 million of AIICO Insurance shares worth N52.95 million to make it the most active stock in terms of volume, while Zenith Bank was the most active with regards to value, having sold 26.31 million shares valued at N574.34 million.
The Nigerian Stock Exchange declined over 17 per cent in 2018, having gained 42.3 per cent the previous year.