Nigerian stocks reverse fragile gains in muted trading
Nigeria, Sept. 20 -- Nigerian stocks dipped 0.10 per cent on Monday, a pullback from the paltry gain reported on Friday, as the market almost closed in flat trading, still much starved of substantial investors' cash needed to keep it buoyant.
Drivers of Monday's retreat were broad with stocks as diverse as GTCO, Ekocorp, PZ and Zenith dominantly triggering the loss.
It was financial services equities that took the most hit, coming from selling pressure on banking and insurance shares, which ranked them on the bottom of performance of the five sector indexes, tracked by the Nigerian Exchange.
"In the coming week, we expect investor sentiment to remain weak amid a dearth of positive triggers," analysts at Lagos-based investment bank Unit...
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