Profit-taking dips market by 0.4 per centre investors lose N80.44bn


The Nigerian equities market snapped last week’s bullish performance as profit-taking activities witnessed in Nigerian Breweries and BUA Cement undermined the market’s performance on Monday.

The domestic equities market witnessed a pullback following six days of bargain hunting activities, as the All-Share Index (ASI) moderated by 0.38 per cent to 40,714.00 basis points.

Accordingly, the Month-to-Date and Year-to-Date returns of the Nigerian Exchange Limited (NGX) moderated to +1.2 per cent and +1.1 per cent, respectively.

Equities investors, therefore, lost N80.44 billion as the market capitalisation settled at N21.22 trillion as against an opening of N21.30 trillion.

However, the…

Source: Nigerian Tribune