Profit taking halts gaining streak on NSE

NSE market capitalisation shed N219bn
United Bank for Africa

The Nigerian equities market on Thursday halted two-day gaining streak on the back of profit taking.

Specifically, the market capitalisation shed N123 billion or 1.07 per cent to close at N11.251 trillion against N11. 374 trillion recorded on Wednesday.

In the same vein, the All-Share Index which opened at 31,151.68 lost 332.58 points or 1.07 per cent to close at 30,819.10 following loses by Nestle and Dangote Cement.

Nestle recorded the highest loss to lead the losers’ chart, shedding N5 to close at N1,480 per share.

Dangote Cement also trailed with a loss of N5 to close at N185, while Okomu Oil Palm was down by N3.50 to close at N72 per share.

Guinness dipped N1 to close at N73, while Unilever shed 60k to close at N38.90 per share.

Conversely, UACN led the gainers’ table during the day, gaining 50k to close at N10 per share.

Cement Company of Northern Nigeria followed with a gain of 25k to close at N16.50, while Oando gained 20k to close at N5.15 per share.

Custodian and Allied Insurance added 15k to close at N5.10, while Cutix increased by 15k to close at N1.97 per share.

FBN Holdings was the most active, trading 92.48 million shares worth N707.26 million.

Diamond Bank followed with an account of 68.22 million shares valued N59.46 million, while Ikeja Hotel traded 34.42 million shares worth N58.52 million.

Guaranty Trust Bank exchanged 14.47 million shares worth N507.81 million, while Zenith Bank sold 6.76 million shares valued at N159.24 million.

In all, the volume of shares traded closed higher as investors bought and sold 280.93 shares worth N2.31 billion in 3,030 deals.

This was in contrast with 198.64 million shares valued at N2.31 billion in 2,845 deals.