Business Latest

NSE: Investors lose N154bn to profit-taking in large-cap stocks

Stock-down

The last trading session for this week closed on a negative note Friday as sell pressure on the stocks of two of the most capitalised companies on the exchange –Dangote Cement and BUA Cement –accounted primarily for the abysmal performance.

Consequently, the Industrial Index, under which the two firms feature, posted the worst result among the five sectorial indices, going down by 3.91% while only the performance of Insurance Index was upbeat.

The market recorded a positive breadth with 22 gainers emerging against 18 losers.

The All Share Index (ASI) depressed by 1.17% to 25,016.30 basis points while Market Capitalisation fell to N13.050 trillion, depreciating by N154.282 billion.

Year to date, the index is down by 6.8%.

TOP 5 GAINERS

BOC Gases topped the gainers’ chart today, appreciating by 10% to close at N4.40. Neimeth added up 9.94% to end today’s trade at N1.77. Learn Africa went up by 9.73% to N1.24. SAHCO leapt to N2.73, notching up 9.64% in the process. Prestige completed the top 5, climbing up by 9.26% to N0.59.

READ ALSO: NSE: Market capitalisation rises further on large-cap gains

TOP 5 LOSERS

Cadbury led losers, declining by 9.47% to close at N7.65. Wapic shed 9.09% to end today’s trade at N0.30. Vitafoam fell to N5.40, losing 8.32%. Chams slumped to N0.27, recording 6.90% depreciation. Total closed at N96.10, going down by 6.52%.

TOP 5 TRADES

214.500 million shares estimated at N2.515 billion were traded today in 4,342 deals.

Zenith Bank led trade with 22.274 million units of its stocks worth N373.319 million traded in 484 deals. 18.544 million units of Fidelity Bank shares priced at N33.478 million exchanged hands in 114 transactions. GTB had 17.160 million shares valued at N412.261 million traded in 376 deals. Nigerian Breweries traded 15.559 million shares estimated at N666.577 million in 75 transactions. FBN Holdings traded 15.549 million shares valued at N83.750 million in 253 deals.

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!