Nigeria: Big Bank Stocks Lead Nigerian Shares in Further Retreat Amid Liquidity Drop

The benchmark index dipped by 34.69 points.

Nigerian stocks receded further on Monday, dipping 0.10 per cent in a retreat led by GTB and Access Bank, Nigeria's most capitalised bank and Nigeria's biggest lender by asset respectively.

The insurance index declined 0.75 per cent to 201.86 basis points, the worst performer of the 5 sectorial indexes tracked by the bourse, also aiding loss

A negative market breadth was recorded as 19 losers emerged against 18 gainers. The benchmark index dipped by 34.69 points to 38,287.58. The market capitalisation contracted to N19.956 trillion at the end of today's trade. Year to date, the index is up by 4.92 per cent.

TOP FIVE GAINERS

Royal Exchange led gainers, growing by 9.68 per cent to close at N0.68. Regal Insurance gained 8.82 per cent to close at N0.37. Consolidated Hallmark rose by 7.84 per cent to N0.55. Sovereign Trust leapt to N0.28, notching up 7.69 per cent in the process. Japaul Gold completed the top 5, climbing up by 7.55 per cent to N0.55.

TOP FIVE LOSERS

ABC Transport topped the losers' table, declining by 9.76 per cent to close at N0.37. Enamelware shrank by 9.75 per cent to end at N16.20. UAC Property tumbled to N0.76, losing 8.43 per cent. Jaiz Bank dipped to N0.58, recording 6.45 per cent loss. Courteville closed at N0.20, going down by 4.76 per cent.

TOP FIVE TRADES

141.146 million shares worth N1.095 billion were traded today in 3,566 deals.

UAC Property was the most preferred stocks today with 17.345 million of its stocks worth N13.336 million traded in 55 deals. FBN Holdings shares of 11.251 million, priced at N81.247 million, exchanged hands in 154 transactions. Chams had 7.920 million shares valued at N1.637 million traded in 21 deals. Fidelity traded 7.842 million shares estimated at N17.944 million in 87 transactions. Zenith traded 7.212 million shares valued at N166.080 million in 286 deals.

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