Local stock market bows to profit taking as investors lose N98bn


At the Nigerian Exchange Limited (NGX), on Thursday, the domestic stock market index fell by 0.38 per cent to close at 46,930.68 basis points as the bears finally took over the Exchange.

Thus, investors lost N98 billion in the session as the market capitalisation followed suit the direction of the ASI to stand at N25.289 trillion, a 0.39 per cent decrease from the N25.387 trillion it stood at the end of the previous trading session.

Hence, the year-to-date gain of the local bourse fell to 9.87 per cent even as, the Exchange printing a higher number of 33 losers than 22 gainers.

The negative outing was largely contributed by profit-taking activities in large and mid capitalised…

Source: Nigerian Tribune