Nigerian Stocks Halt Rally as Protests test Bulls

Nigerian Stocks closed the day down by 0.75 percent as investors sold amid uncertainty over protests that have gripped Africa’s largest economy for the past 2 weeks.

The NSE-All share index was down 216 index points to 28,449 points.

Banks and industrial stocks led the decline with UBA down 4.35 percent, Lafarge Africa down 4.42 percent, United Capital down 7 percent, and FBN Holdings down 3.17 percent.

In the fixed income market bond yields rose as U.S Presidential candidate Joe Biden weighed in on the attacks on protesters in Nigeria.