NGX: Investors lose N190bn as Tier-1 banks experience sell-offs
Sell-offs in the shares of Tier-one banks on Thursday contributed to a 0.32 per cent decline in the Nigerian Exchange Ltd. (NGX) market indices.
Specifically, losses in the share prices of FBN Holdings, Access Corporation, Guaranty Trust Holding Company (GTCO), Zenith Bank and StanbicIBTC Bank, among others, dragged down the market performance.
Consequently, investors saw a decrease of N190 billion or 0.32 per cent, with market capitalisation opening at N59.095 trillion and closing at N58.905 trillion.
The All-Share Index also dipped by 0.32 per cent to close at 104,181.32 points, compared to 104,518.14 points posted on Tuesday.
This led to a Year-To-Date (YTD) return of 39.33 per cent.
The market breadth ended negative, with 32 losers and 21 gainers.