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Winning streak ends as Nigerian stocks falls by 0.97%

Nigerian Stocks fall

Nigerian Stocks end-week-long gains as funds book profit

  • The all share index, which rose 50% in 2020, fell to 40,756.69 points, or 0.96%.
  • Nigeria is facing its worst economic crisis in 40 years, triggered by the coronavirus-induced oil price crash.

Nigerian stocks fall

ABUJA: Nigerian stocks fall by 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, 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 stocks falls which is causing the 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 led the decliners, and was down the maximum 10% allowed on the bourse.

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