Nigeria’s listed stocks are beginning to pullback from recent rally as investor see profit taking opportunities. The market decreased by 1.46 percent at the close of trading on Tuesday. The market’s return year-to-date (YtD) decreased to 38.56 percent, no thanks to industrial, insurance, banking and oil & gas stocks despite bargains in consumer goods stocks.
Dangote Cement occupied position as the market’s major dragger on Tuesday as the stock decreased most, from N577 to N520, down by N57 or 9.88percent. Royal Exchange decreased from N2.80 to N2.52, down by 28kobo or 10percent, while Lasaco dropped from N3.99 to N3.60, losing 39kobo or 9.77 percent. Universal Insurance, AIICO and Mutual Benefit were most traded stocks.
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