Investors rush banking stock, as Cap dips by N124bn
The quartet of FBNH, Diamond, Stanbic and Zenith banks traded a total of 134.5 million shares for combine worth of N1.4bn yesterday.
The equities market of the Nigerian Stock Exchange (NSE) closed yesterday on a negative note, as the Market Capitalisation shed N124bn to close at N12,789.
The ASI depreciated by -0.96% to close at 36,953.41 basis points as against +0.52% appreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +37.50%.
Speaking to Daily Trust on the development, the Managing Director of Crane Security, Mike Eze said: “What we are seeing is that people are trying to take position in these companies because of the impressive third quarter results that they have posted.