Profit Taking Halts 12-day Price Rally at Stock Market - THISDAYLIVE

The rally at the stock market was halted yesterday after 12 days as investors moved in to lock in profit accumulated during the bull run. As a result, the Nigerian Stock Exchange All-Share Index fell 0.95 per cent to close at 28,634.35, while market capitalisation shed N143.7 billion to close at N14.967 trillion.

However, the bears set in following profit take by investors which led to 31 stocks depreciated compared with 21 stocks that appreciated. But analysts had envisaged the return of the bears after 12 days of dominance by the bulls. On the positive side, Berger Paints Nigeria Plc led the price gainers with 9.8 per cent, trailed by Linkage Assurance Plc with 9.7 per cent. NASCON Allied Industries Plc and Mutual Benefit Assurance Plc appreciated by 9.5 per cent apiece, while CAP Plc chalked up 9.3 per cent among others.

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