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NSE: Investors lose N198bn on profit-taking in heavyweight stocks

Profit-taking in heavyweight stocks including Dangote Cement and BUA Cement (two of the four most capitalised stocks on the Nigerian Stock Exchange) cost investors N198.054 billion on Tuesday, reversing gains from the two previous trading sessions.

The impact of sell pressure from the two stocks was massive on the Industrial Index, which went down by 7.50% to 1,103.86 basis points, consequently posting the worst performance among the five sectorial indices.

A negative market breadth was recorded with 34 losers emerging against 10 gainers. The All Share Index fell by 1.53% to 24,479.22 basis points while market capitalisation depressed to N12.770 trillion.

Year to date, the index is down by 8.8%.

TOP 5 GAINERS

Neimeth led the gainers’ chart today, appreciating by 10% to close at N1.65. Okomu Oil went up by 9.94% to N77.40. ABC Transport rose to N0.56, notching up 9.80% in the process. Law Union & Rock added 6.19% to end today’s trade at N1.03. Vitafoam completed the top 5, climbing by 5.47% to N5.59.

TOP 5 LOSERS

Cadbury was the worst performing stock today, declining by 10% to close at N6.75. BUA Cement shed 10% to close at N38.70. Unity Bank fell to N0.48, losing 9.43%. Berger slumped to N6.75, recording 9.40% depreciation. Learn Africa closed at N1.17, going down by 9.30%.

READ ALSO: NSE: Consumer Goods Index leads as market extends gain

TOP 5 TRADES

280.667 million shares estimated at N3.139 billion were traded today in 4,464 deals.

FBN Holdings was the most active today with 68.211 million units of its stocks worth N365.019 million traded in 273 deals. 22.520 million units of Nigerian Breweries’ shares priced at N805.421 million exchanged hands in 99 transactions. Japaul had 17.828 million shares valued at N3.825 million traded in 71 deals. Abbey Building Society traded 14 million shares estimated at N14.7 million in 1 transaction. FCMB traded 10.216 million shares valued at N19.188 million in 77 deals.

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