Profit taking: NSE market capitalisation loses N68bn

The market capitalisation of the Nigerian Stock Exchange (NSE) on Friday shed N68 billion as a result of profit taking embarked by investors.

Our correspondent reports that the market capitalisation which opened at N11.244 trillion lost N68 billion or 0.60 per cent to close at N11.176 trillion.

Similarly, the All-Share Index dropped 179.03 points or 0.60 per cent to close at 29,740.41, amid price loses.

Forte Oil led the gainers’ table, growing by N2.50 to close at N29.20 per share.

Dangote Flour Mills followed with a gain of N1.40 to close at N15.55, while Oando gained 45k to close at N5.30 per share.

Cadbury increased by 35k to close at N11.35, while GlaxoSmithKline appreciated by 30k to close at N9 per share.

Conversely, Okomu Oil topped the losers’ chart, dropping by N8 to close at N72 per share.

Union Dicon trailed with a loss of N1.30 to close at N12.15, while Dangote Cement was down by N1.10 to close at N186.90 per share.

International Breweries shed N1 to close at N20, Berger Paint also depreciated by N1 to close at N9.40 per share.

Also, the volume of shares traded closed lower with an exchange of 244.58 million shares valued at N1.54 billion in 3,444 deals.

This was in contrast with a turnover of 566.50 million shares worth N7.27 billion achieved in 4,103 deals.

A breakdown of the activity chart shows that Japaul Oil was the most active stock trading 56.56 million shares valued at N15.08 million.

United Bank for Africa came second with 29.99 million shares worth N205.55 million, while Wema Bank exchanged 25.32 million shares valued at N18.83 million.

Access Bank sold 18.06 million shares worth N122.19 million, while Transcorp traded 17.32 million shares valued at N19.24 million.