Dec 6 (Lagos) - The rally that started on Friday faded today as investors desperate for any profits they can get booked those gains.
However the oil and gas stocks remained hot on the back of increasing crude oil prices internationally and rising diesel prices in Nigeria. Diesel is hitting very high levels and there is shortage in the country which is going to send these prices even higher.
Heavyweight stocks DANGCEM
both declined today by 1.15% and 1.23% respectively which was the main cause of today's decline in the All Stock Index.
Among Banks FBNH
impressed with gains of 3.32% and 4% respectively.
Insurance stocks continued to disappoint.
TRANSCORP gained 7.89% but this stock is down sharply this year.
Overall the volumes did not impress and liquidity was thin. A day to forget at the exchange unless you own TOTAL
or bought FO
last week then it was sweet for you.
reporting for easykobo.com on Tuesday, Dec 6 2016 from Lagos, Nigeria
If you would like to post comments! Please log in.