Nigerian stocks shed N75.5 billion as investors take profit

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Large sell orders on the shares of MTN prompted the retreat as trade volume diminished by 11 per cent even though turnover was...

fell by 0.3 per cent or N75.5 billion on Monday as equities surrendered the paltry gain recorded at the previous trading session and the benchmark index faced pressure from profit-taking actions from traders.

“We expect the local equities market to remain in a lull going forward. Positive drivers to catalyse investor interest in the equities markets are far and few,” said analysts at investment bank and brokerage firm United Capital in their forecast note for this week seen by PREMIUM TIMES.

 

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