Nigerian equities were down by 0.44 per cent on Monday, shedding value for the first time in 10 days in a trading session that saw sector giants: MTN and GTB steer a loss running into N37 billion.
Also aiding loss, investors showed great determination to offload building material stocks notably BUA Cement and Lafarge WAPCO, and that had implications for the industrial index, which took the hugest blow of the five sectorial indexes tracked by the exchange, going down 0.66 per cent.With Monday’s loss coming after four straight sessions of gain, it is apparent that profit-taking is already here and stocks could see a decline in quick succession in the days ahead.
The all-share index slipped 175.42 points to 39,306.47, while the market capitalisation sank also to N20.542 trillionEterna led gainers, rising by 9.85 per cent to N7.25. Royal Exchange added 9.21 per cent to end today’s trade at N0.83. Capital Hotel went up by 9.09 per cent to N2.40. Regal Insurance leapt to N0.37, notching up 8.82 per cent in the process. Sterling Bank completed the top 5, climbing up by 8.11 per cent to N1.60.Unilever led losers, declining by 10% to close at N15.30.
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