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NSE: Market indices record marginal loss on profit taking

INVESTORS on the Nigerian Stock Exchange (NSE) on Tuesday resorted to profit taking leading to a marginal drop of the All-Share Index.

The News Agency of Nigeria (NSE) reports that the index lost 3.58 points or 0.01 per cent to close at 37,988.54 against 37,992.12 posted on Monday.

Also, the market capitalisation dipped by N1billion or 0.01 per cent to close at N13.761 trillion compared with N13.762 trillion achieved on Monday.

An analysis of the laggards’ table shows that International Breweries topped the chart with N2.70 to close at N41.30 per share.

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Cement Company of Northern Nigeria came second with a loss of N1.25 to close at N24.70, while Mobil Oil was down by N1 to close at N182 per share.

 Zenith International Bank shed 45k to close at N25.50, while Africa Prudential Registrar was down by 20k to close at N3.85 per share.

On the other hand, Nestle led the gainers’ chart with a gain of N10 to close at N1,500 per share.

Presco followed with a gain of N1.50 to close at N75, while Lafarge Africa increased by 95k to close at N39.05 per share.

 Nigerian Breweries gained 50k to close at N110.50, while Oando rose by 30k to close at N6.65 per share.

A breakdown of the activity chart indicates that Union Bank of Nigeria was the most active, trading 281.55 million shares worth N1.55 billion.

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Fidelity Bank followed with a turnover of 61.92 million shares valued at N142.43 million, while Transcorp accounted for 26.71 million shares worth N36.73 million.

FBN Holdings sold 24.39 million shares worth N262.34 million, while
Zenith International Bank traded 20.23 million shares valued at N518.50 million.

In spite of the drop posted by the crucial market indices, the volume of shares and valued closed higher.

NAN reports that investors staked N4.71 billion on 539.67 million shares exchanged in 4,202 deals.

This was against the 307.41 million shares worth N3.42 billion traded in 3,822 deals on Monday.

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