Nigeria, Nov. 10 -- Last week, the market went in a contrary direction against largely positive third-quarter and nine-month corporate results, depreciating by 3 per cent.

Insurance stocks took the heaviest blow as all the sector indexes retreated.

"Overall, while we anticipate a mild gain in the market, there remain possibilities for profit-taking in tickers that have and may still exceed their year highs due to the influence of their earnings releases and investors' positioning," analysts at the investment bank Meristem Securities had said in their outlook for the week.

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