Nigerian Bourse Tracking Lower Midday on Profit-Taking
The Nigerian local bourse is tracking lower midday on profit-booking by some retail investors following the announcement that Airtel Africa has paid off N61 billion to buy Nigerian minority shareholdings.
In a midday market report, Alpha Morgan Capital said the equity market is currently trading on a bearish note following price declines in some banking and industries stocks.
Market data shows that by midday trading, GTCO sheds 0.41%, ZENITH BANK price down 0.42%, Nigerian Breweries shares lost 0.43%, UCAP declines 0.52%, UBA slides 0.63%, FIDELITYBK dropped off 0.79%, and FBNH has seen the largest drop in share price at 1.25%.
Overall, the Nigerian Exchange All Share Index is lower by 0.09% but stockbrokers told MarketForces Africa it is not over until it is over. # Nigerian Bourse Tracking Lower Midday on Profit-Taking
Read Also: Nigerian Exchange Records Small Gain Despite Midday Rally
