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Nigerian stocks halt three-day bull run as investors take profit

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Traders’ risk-off disposition to bellwether stocks like MTN Nigeria, GTB, and Nigerian Breweries triggered the slide.

Also aiding loss, the insurance index fell the most of the five sector indexes tracked by exchange, dropping 0.56 per cent to 199.42 basis points as traders dumped big volumes ofNevertheless, the market reported a positive breadth as 25 gainers emerged relative to 16 losers.

The all-share index shrank by 53.82 basis points to 39,156.28. Similarly, market capitalisation declined to N20.409 trillion.Cutix topped gainers, trading up 9.88 per cent to close at N2.78. Jaiz Bank gained 9.26 per cent to close at N0.59. Champion Breweries rose by 6.98 per cent to N0.46. Mansard jumped to N0.88, notching up 4.76 per cent. NNFM completed the top 5, climbing up by 4.24 per cent to N6.15.NEM topped the losers’ table, declining by 10 per cent to close at N1.80.

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