The Nigerian equities market on Thursday reversed its three-day bullish streak due to profit-taking, mainly in stocks of Airtel Africa.
The All-Share Index (ASI) also lost 43.04 points or 0.09 per cent to close at 48,836.70 compared with 48,879.74 posted on Tuesday.
Performance was driven by sustained investors’ interest in MTN, First Bank of Nigeria Holdings (FBNH), Zenith Bank, Okumu Oil, among others.
The gain was prompted by renewed interests in telecoms giant MTN Nigeria.
BUA Foods was the toast of investors, exchanging 204.59 million shares valued at N10.06 billion.
The market capitalisation closed on Friday at N22.060 trillion from N22.043 trillion achieved on Thursday.
The negative sentiment was driven by investors’ profit-taking sentiments in the banking and consumer goods sectors.
Market performance was driven by price depreciation in large and medium capitalised stocks.
Market capitalisation lost N54 billion or 0.27 per cent to close at N20.089 trillion from N20.143 trillion achieved on Friday.
