Nigeria's all-share index fell 1.56 percent on Monday to 22,863 points, reversing some of last week's gains as profit taking from heavy-weight stocks dragged the bourse down.
Coca-Cola franchise Nigerian Bottling Company (NBC.LG: Quote) slips 4.98 percent, United Bank for Africa (UBA.LG: Quote) falls 4.97 percent and Diamond Bank (DIAMONB.LG: Quote) drops 4.96 percent.
Other decliners are Stanbic IBTC (IBTC.LG: Quote) down 4.95 percent, Skyebank (SKYEBAN.LG: Quote) drops 4.94 percent, Ecobank (ECOBANK.LG: Quote) dips 4.91 percent and Fidelity Bank FIDELT.LG drops 4.14 percent.
"Transactions skewed toward profit taking across board," one dealer said.
About 54 of the over 200 listed equities post price losses, while 18 gains and the rest were flat.
Volume of transactions decline to 227.49 million shares in 6,012 deals valued at 1.58 billion naira ($10.61 million) from 428.47 million shares in 7,011 deals and valued at 2.79 billion naira on Friday.
-REUTERS
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