Connect with us

Business

NSE: Investors lose N154 billion amidst profit-taking in bellwether stocks

Published

on

The Nigerian bourse began the week on a gloomy note as the market capitalisation shed N154 billion due to profit-taking activities in blue-chip equities. The market has been bearish for days on account of the improved yields in the treasury bill market, triggered by the CBN’s decision to increase the Cash Reserve Ratio (CRR) by 500 points from 22.5% to 27.5%, a move that is driving investors to reallocate proceeds from stocks into treasury bills.

A neutral market breadth was posted with the number of gainers equalling that of losers; 17 stocks featured on each side. Sector performance was mixed with the Industrial Index appreciating by 0.76% and Insurance Index by 0.86%. However, the Banking, the Oil and Gas, and the Consumer Goods Indices slumped by 0.54%, 0.55 and 4.75% and 0.92% respectively, driven by losses posted by sector giants like GTB, Nestle and Oando.

The All Share Index (ASI) slid by 1.05% to close at 27,772.19 basis points. The market capitalisation shrank to N14.464 trillion at the end of today’s trade. Year to date, the index is up by 3.47%.

TOP 5 GAINERS

BUA Cement was the leader in the flock of gainers today, appreciating by 1.69% to close at N36. UPDCREIT added up 6.25% to end today’s trade at N3.4. NPFMCRFBK went up by 9.82% to N1.23. African Prudential rose to N4.6, notching up 2.2% in the process. Law Union completed the top 5, climbing by 8.11% to N1.2.

TOP 5 LOSERS

Food-processing heavyweight, Nestle, led losers at Monday’s trade, declining by 10% to close at N125. MTNN shed 1.71% to end today’s trade at N115. WAPCO fell to N15.05, losing 1.63%. GTB slumped to N29.3, recording 0.68% depreciation. FBN Holdings closed at N5.85, going down by 2.50%.

READ ALSO: CBN releases $218m, ¥18m into Forex market

TOP 5 TRADES

200.155 million shares estimated at N1.923 billion were traded today in 3,487 deals.

FBN Holdings was the most active stock with 35.909 million of its stocks worth N211.055 million traded in 297 deals. 24.626 million units of Transcorp shares priced at N23.575 million exchanged hands in 53 transactions. Zenith Bank had 18.571 million shares valued at N369.053 million traded in 400 deals. UACN traded 14.164 million shares estimated at N120.220 million in 169 transactions. Fidelity Bank traded 11.731 million shares valued at N24.919 million in 98 deals.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now