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Nigerian stocks fall for fourth trading day as volume shrinks

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The NGX 30, the index tracking the combined progress of the top 30 firms in terms of market value and liquidity, shed 0.09 per cent.

Nigerian stocks fell for the fourth trading day in a row on Monday as the main equity index contracted by 0.07 per cent.

Trade has been subdued for days, but the activity level raised fresh concerns on Monday with volume tapering by as much as 37 per cent. That will set the tone for the capital market for the next two months or more. Profit-taking in the shares of energy company“We expect the local bourse to remain in a lull in anticipation of the upcoming MPC meeting scheduled on the 26th and 27th of September,” analysts at United Capital said in an outlook note for this week seen by PREMIUM TIMES.

The all-share index surrendered 35.2 points, dipping to 49,440.2, while the market capitalisation inched down to N26.7 trillion.ETranzact appreciated by 9.97 per cent to N3.20. Vitafoam added 5 per cent to end trade at N21. Honeywell Flour went up by 3.36 per cent to N2.46. Cornerstone rose to N0.62, notching up 3.33 per cent. International Breweries completed the top 5, climbing by 3.12 per cent to N4.95.

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