The Nigerian Exchange Limited halted a five-day gaining streak to close on a downturn yesterday, amid profit taking in MTN Nigeria Communications and 18 stocks, as market capitalisation declined by N86 billion.
Analysts at GTI Securities Limited said that, “The equities market closed trading activities for yesterday bearish, as profit-taking was seen across the major market sector, excluding the Consumer goods sector, which grew by 0.29 per cent. However, we expect bargain hunting to persist throughout the week.”
Regency Alliance Insurance went up by 3.85 per cent to close at 27 kobo, while Okomu Oil and Ecobank Transnational Incorporated appreciated by 3.29 per cent each to close at N216.90 and N11 respectively. FBN Holdings added 2.75 per cent to close at N11.20 kobo.
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