100712 Market CAP sheds N22.56bn to halt five-day rally.

Nigerian Stock Market closed in the red zone as the bears re-surfaced to dominate market activities after five-day rally due to profit taking across the main board amid increased volume turnover and Naira votes while market breadth closely relatively flat.

Nevertheless, the key benchmark indices resumed downtrend as sentiments turned negative, taking hits majorly from Large CAP stock which was particularly driven by ZENITHBANK while Medium CAP stocks also contributed to the outlook recorded today due to selling activities witnessed in Conglomerates, Consumer Goods and Oil & Gas sectors.

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