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Nigerian stocks end week-long gains as funds book profit

ForexJan 05, 2021 13:54
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© Reuters.

ABUJA, Jan 5 (Reuters) - Nigerian stocks fell 0.97% on
Tuesday to end a week-long winning streak as recession worries
countered excess cash on the money market, prompting funds to
book profit following recent gains.
The all share index .NGSEINDEX , which rose 50% in 2020,
fell to 40,756.69 points, or 0.96%, by 1245 GMT, as banking
consumer goods and oil stocks declined.
Nigeria is facing its worst economic crisis in 40 years,
triggered by the coronavirus-induced oil price crash. Officials
hope the West African country will emerge from its second
recession in four years by early this year.
Oil company Oando OANDO.LG led the decliners, and was down
the maximum 10% allowed on the bourse.



Nigerian stocks end week-long gains as funds book profit
 

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