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Nigerian stocks fall after sell-offs in industrial goods, energy shares

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Oando, Champion Breweries, Dangote Cement and Zenith led the retreat.

Nigerian stocks were weaker by 0.40 per cent on Monday as investors put huge volumes of industrial goods and oil and gas stocks up for sale, causing equities to shed about N100 billion in value.Cement and Zenith led the retreat, even though there was a marked improvement in liquidity, with trade volume jumping by 29 per cent.The all-share index inched down by 158.98 points to 39,326.67, while market capitalisation dipped to N20.5 trillion.Honeywell led the gainers, appreciating by 9.

went up by 9.84 per cent to N2.01. ABC Transport rose to N0.36, notching up 9.09 per cent in the process. Presco added 8.90 per cent to end the trade at N79.50. FTN Cocoa completed the top 5, climbing by 8.33 per cent to N0.52.

 

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