Profit taking hits exchange, indices down by N30billion
Profit taking by investors at the Nigerian Stock Exchange (NSE) yesterday pulled market capitalisation down by N30 billion.Specifically, at the close of trading yesterday, market capitalisation depreciated by N30billion or 0.3 per cent to N12.823trillion from N12.853trillion achieved on Wednesday.
Also, the All-share index shed 86.83 point to 37051.54 from 37138.37 exchanged on Wednesday. Analysts attributed the slide in indices to profit taking by investors on the exchange.
According to them, investors leveraged the marginal price appreciation recorded in the last two days to recoup their investment.Further breakdown of yesterday’s transactions showed that investors traded 175.751 million shares worth N3.522billion in 3357 deals against 193.477 million units valued at N1.807billion that changed hands in 3904 deals on Wednesday.
On the price movement chart, Mobil Oil led the gainers chart, adding 11.99 kobo to close at N165.00 per share. International Breweries followed with a gain of 3.79 kobo to close at N48.99 per share. Forte Oil increased by 2.00 kobo to close at N42.00 per share.
Presco Plc added 2.00 kobo to close at N66.00 per share. Seven UP Plc advanced by 0.60 kobo to close at N88.00 per share.However, Dangote Cement topped the losers chart, dropping 1.99 kobo to close at N229 .01 per share, while Nigerian Breweries trailed with a loss of 0.89 kobo to close at N143.00 per share.
National Salt Company of Nigeria fell by 0.63 kobo to close at N15.35 per share. Zenith International Bank depreciated by 0.48 kobo to close at 25.10 per share. Dangote Sugar Refinery also depreciated by 0.21 kobo to close at N15.25 per cent.
On the activity chart, Guaranty Trust Bank of the banking subsector was the toast of investors, exchanging 34.183 million shares worth N1.435billion while Fidelity Bank followed, accounting for 28.986 million unit valued at N48.121million. FBNHoldings traded 19.986 million shares worth N142.791million. FCMB sold 10.648 million shares valued at N12.632 million. Diamond Bank also exchanged 9.510 million shares worth N11.177million.
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