Profit taking persists on NSE, indices down by 0.22%

Activities on the Nigerian Stock Exchange (NSE) maintained a downward slide on Friday with the market indicators depreciating further by 0.22 per cent.

Specifically, the market capitalisation shed N28 billion or 0.22 per cent to close at N12.804 trillion against N12.832 trillion on Thursday.

Also, the All-Share Index, which opened at 26,584.45, lost 58.1 points or 0.22 per cent to close at 26,526.35.

The market data showed that 12 stocks recorded price appreciation, while 23 stocks posted declines.

An analysis of the price movement shows that Guinness led the laggards’ table with a loss of N3.55 to close at N32.05 per share.

Dangote Sugar trailed with a loss of N1.65 to close at N14.90, while NASCON dipped by N1.30 to close at N11.95 per share.

Cadbury declined by N1.05 to close at N9.60, while PZ Cusson was down by 60k to close at N5.40 per share.

Conversely, Nigerian Breweries led the gainers’ table, with a gain of N5.25 to close at N57.95 per share.

Unilever followed with N1.75 to close at N20.20, while Julius Berger gained 50k to close at N19.50 per share.

Stanbic IBTC added 30k to close at N37.50, while Flour Mills increased by 20k to close at N19.50 per share.

Further analysis indicates that Union Diagnostic was the most active stock, exchanging 166.11 million shares worth N33.22 million.

FCMB Group followed with an account of 29.64 million shares valued at N53.99 million, while Zenith Bank traded 23.85 million shares worth N440.39 million.

Guaranty Trust Bank traded 22.98 million shares valued at N680.03 million, while Fidelity Bank sold a total of 14.55 million shares worth N31.79 million.

Consequently, the volume of shares transacted rose by 12.29 per cent as investors bought and sold 341.62 million shares worth N2.34 billion in 2,949 deals.

This was in contrast with 304.214 million shares valued at N3.15 billion exchanged in 2,690 deals on Thursday.