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Nigerian Stock Exchange: 43 stocks shed weight as equities continue downtrend

A total of 43 stocks depreciated in price at the end of transactions today even as profit taking continued into the third day in the week.

Nigerian Stock Exchange

The losers were dominated by the banking names with the sector accounting for 15 of the losers at the end of the day’s trading.

Specifically, FCMB Group, one of the banks that have benefited most from the recent rally, led the pack, depreciating b y 9.71 percent to close at N3.07 from N3.40. The shares of another tier 2 bank, Diamond Bank Plc, depreciated by 9.60 percent to close at N2.92 from N3.23 per share.

Fidelity Bank Plc ranked third in losers chart, dropping by 9.52 percent to close at N3.23 from N3.57, while Sterling Bank Plc and Transcorp Plc went down by 9.35 percent each to close at N1.94 and N1.94 from N2.14 and N2.14 per share respectively.

On the other hand, 11 stocks led by May & Baker Plc appreciated in price. May & Baker’s shares rose by 4.95 percent to close at N2.97 from N2.83, followed by Transnationwide Express Plc, which appreciated by four percent to close at N0.78 from N0.75.

Wapic Insurance Plc ranked third, rising by 3.64 percent to close at N0.57 from N0.55. Cement Company of Northern Nigeria, CCNN, went up by 3.47 percent to close at N17.90 from N17.30, while Learn Africa Plc chalked up by 2.13 percent to close at N0.96 from N0.94 per share.

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