Profit taking: NSE market indices record first week loss of 1.27%

The Nigerian Stock Exchange (NSE) on Friday recorded first week loss with the market indicators dropping 1.27 per cent due to profit taking. Specifically, the market capitalisation of listed equities dipped N161 billion or 1.27 per cent to N12.531 trillion compared with N12.692 trillion achieved on Thursday. Also, the All-Share Index dropped by 308.85 points or 1.27 per cent to close at 24,045.40 points from 24,354.25 on Thursday. MTN Nigeria dominated the losers’ chart, dropping by N8 to close at N112 per share.

Guaranty Trust Bank trailed with a loss of 55k to close at N21.95, while BUA Cement was down by 40k to close at N31.90 per share. Guinness lost 30k to close at N18, while C & I Leasing depreciated by 20k to close at N4.50 per share On then other hand, Nigerian Breweries led the gainers’ table appreciating by N2.60 to close at N37.50 per share. Custodian and Investment Plc followed with a gain of 45k to close at N6.30, while Zenith Bank gained 20k to close at N15.40 per share. GlaxosmithKline added 20k to close at N5.40, while Africa Prudential increased by 19k to close at N3.90 per share. 

The banking stocks remained the toast of investors with FBN Holdings emerging the most ctive, trading 63.05 million shares worth N295.85 million. Guaranty Trust Bank followed with an account of 27.16 million shares valued at N608.78 million, while Zenith Bank traded 14.71 million share worth N224.28 million. Red Star traded 11.78 million shares valued at N32.13 million, while Mutual Benefits accounted for 9.69 million shares worth N1.94 million. In all, investors traded 208.5o million shares valued at N2.19 billion in 4,320 deals. This was against a total of 431.58 million shares worth N5.26 billion achieved in 5,860 deals on Thursday, a decrease of 51.67 per cent.