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NSE: Bear run enters 4th day amid profit-taking in blue-chip stocks



The Nigerian Stock Exchange (NSE) extended loss for a fourth day on Thursday as profit-taking in mid and large-cap stocks led the market towards the negative territory.

Sell pressure on the shares of WAPCO, Guinness, Zenith, Dangote Sugar and MTNN accounted mostly for the downtrend.

A slide in the Banking Index, the worst performer of the 5 sectorial indices, by 4.14% to 370.50 index points also aided losses.

A negative market breadth was recorded as 40 losers emerged against 6 gainers.

Falling by 1.27%, the All Share Index (ASI) closed at 34,577.26 indes points. Market capitalisation dropped to N18.072 trillion.

Year to date, the index is up by 28.82%


Okomu Oil led gainers at the NSE on Thursday, growing by 10% to close at N88. Mutual Benefits gained 9.09% to close at N0.24. FTN Cocoa rose by 8.11% to N0.40. Union Diagnostic leapt to N0.29, notching up 7.49% in the process. GSK completed the top 5, climbing up by 1.52% to N6.70.


UPL topped the losers’ table at the NSE today, declining by 10% to close at N1.26. WAPCO shrank by 10% to end the day at N20.25. FBN Holdings tumbled to N6.30, losing 10%. Portland Paint dipped to N2.35, recording 9.96% loss. NNFM closed at N6.30, going down by 9.88%.

READ ALSO: NSE: Royal Exchange, Ardova, Mutual Benefits top losers as stocks shed N7bn


553.950 shares worth N6.639 billion were traded in 6,441 deals on the NSE.

GTB was the most preferred stocks on the NSE toda with 87.017 million units of its stocks worth N2.826 billion traded in 384 deals. 65.042 million units of Zenith Bank shares priced at N1.456 billion exchanged hands in 874 transactions. Transcorp had 52.478 million shares valued at N46.082 million traded in 199 deals. Regal Insurance traded 46.606 million shares estimated at N9.790 million in 26 transactions. FBN Holdings traded 43.154 million shares valued at N280.179 million in 446 deals.

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