Nigerian stocks record first fall in six days after inflation data release

contracted by 0.29 per cent or N83.2 billion on Monday, its first drop since Tuesday, as investors reacted to the cost of living report for April.

“Going into activities for this week, we expect profit-taking in some names on the back of generally strong market performance in the previous weeks,” analysts at brokerage firm ARM Securities said in an outlook note seen by PREMIUM TIMES.The all-share index was down by 153.8 basis points at 52,944.7. Similarly, market capitalisation depreciated to N28.5 trillionMcNichols grew by 9.70 per cent to N1.47. NNFM gained 9.55 per cent to close at N10.90. Transcorp rose by 8.53 per cent to N1.40.

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