Categories: Business and Banking

NSE trading succumbs to profit taking, index down by 0.33%

Activities on the Nigerian Stock Exchange All-Share Index on Friday bowed to profit taking halting the six-day price rally with the All-Share Index dropping by 0.33 per cent.

The index lost 142.64 points or 0.33 per cent to close at 42,898.90 compared with 43,041.54 achieved on Thursday.The market indices had remained upbeat since January following renewed investors confidence.

An analysis of the price movement table indicated that International Breweries recorded the highest price loss to lead the losers’ table, dropping by N2 to close at N60 per share.

Zenith Bank trailed with a loss of N1.75 to close at N31.26, while Flour Mills Nigeria was down by N1.65 to close at N31.35 per share.

Nigerian Breweries shed N1.63 to close at N151.05, while Julius Berger declined by N1.18 to close at N28.22 per share.

Conversely, Nestle topped the gainers’ table with a gain of N39.54 to close at N1,490 per share.

Mobil Oil followed with a gain of N9 to close at N190, while Guinness improved by N3.78 to close at N108.99 per share.

Lafarge Africa increased by N2.30 to close at N56.90, while Stanbic IBTC gained N2.14 to close at N44.94 per share.

A breakdown of the activity chart showed that Transcorp maintained leadership as the most traded, accounting for 222.90 million shares worth N500.12.

Diamond Bank followed with a turnover of 153.46 million shares valued at N418.32 million, while FBN Holdings traded 133.41 million shares worth N1.58 billion.

FCMB Group sold 112.24 million shares valued at N300.11 million, while Fidelity Bank traded 85.92 million shares worth N269.30 million.

In all, investors staked N15.37 billion on 1. 39 billion shares transacted in 11,385 deals compared with 1.62 billion shares worth N17.38 billion in 8,968 deals.

NSE trading succumbs to profit taking, index down by 0.33% was last modified: January 12th, 2018 by Segun Ige
Segun Ige

Segun Ige is a Nigerian journalist from Ogun state. Segun has worked with top newspapers in Nigeria. He is the convener of 'Free write Naija', a group keen on enhancing press freedom in Nigeria.

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