NSE: Investors lose N160.957 billion as profit-taking halts bull run

Profit-taking in big-cap stocks led by MTNN, GTB and BUA Cement disrupted the nine-day bull trend on the Nigerian Stock Exchange Friday, causing the market to shed N160.957 billion.

The underwhelming performance confirmed the fears raised at the previous session, where the fact that the banking index closed in red hinted due to massive sell-off hinted at the possibility of the whole market sliding into the negative territory soon.

A negative market breadth was recorded with 17 losers emerging against 15 losers.

The All Share Index (ASI) climbed down by 1.27% to 24,045.40 basis points. Market capitalisation depreciated to N12.531 trillion at the end of today’s trade.

Year to date, the index is down by 10.42%.

TOP 5 GAINERS

Fidson was the leader in the flock of gainers today, appreciating by 7.83% to close at N2.48. Custodian Investment added up 7.69% to end today’s trade at N6.30. Nigerian Breweries went up by 7.45% to N37.50. Neimeth rose to N0.64, notching up 6.67% in the process. African Prudential completed the top 5, climbing by 5.12% to N3.90.

TOP 5 LOSERS

UACN Property led losers at Friday’s trade, declining by 8% to close at N0.92. UPL shed 7.14% to end today’s trade at N1.04. MTNN fell to N112, losing 6.67%. Japaul slumped to N0.20, recording a 4.76% depreciation. Mutual Benefits closed at N0.20, going down by 4.76%.

READ ALSO: NSE: Royal Exchange, UPL, Conoil lead gainers as market continues upward trend

TOP 5 TRADES

208.588 million shares estimated at N2.193 billion were traded today in 4,320 deals.

FBN Holdings was the most active stock with 63.050 million of its stocks worth N295.852 million traded in 356 deals. 27.164 million units of GTB shares priced at N608.779 million exchanged hands in 349 transactions. Zenith had 14.714 million shares valued at N224.611 million traded in 404 deals. Red Star Express traded 11.781 million shares estimated at 32.130 million in 101 transactions. Mutual Benefits traded 9.688 million shares valued at N1.938 million in 15 deals.

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