NSE: Investors lose N371bn to intense profit taking

Profit-taking efforts in bellwether stocks across the banking, industrial, telecoms and ICT sectors Thursday caused the market to record tremendous loss, easily reversing the modest gain recorded at yesterday’s session.

Consequently, all the major market performance indicators closed in the positive territory.

The Banking Index was worst hit by price slump among the sector indices as it shed 7.75% to close at 241.91 basis points

Trade ended with a negative market breath as 22 losers emerged against 13 losers. The All Share Index (ASI) fell by 3.12% to close at 22,078.58 basis points. Equally, the market capitalisation climbed shed N370.547 billion, plunging to N14.516 trillion at the end of today’s trade. Year to date, the index is down by 17.60.

TOP 5 GAINERS

Africa Prudential led gainers today, growing by 9.91% to close at N3.55. International Breweries rose by 4.76% to close at N5.5. Dangote Sugar went up by 1.52% to N10. Sterling Bank leapt to N1.08, notching up 9.09% in the process. Livestock completed the top 5, climbing up by 9.09% to N0.6.

TOP 5 LOSERS

Nestle topped the losers’ table today, declining by 3.41% to close at N850. MTNN shrank by 4.78% to end the day at N99.5. Dangote Cement fell to N129, losing 3.30%. Zenith Bank slumped to N12.15, recording 10% loss. WAPCO tumbled to N10.1, going down by 6.48%.

READ ALSO: NSE: MTN, GTB, Cadbury lead gainers as market finds resilience

TOP 5 TRADES

Investors staked N4.743 billion on 525.848 million shares in 5,450 transactions today.

Zenith Bank was the most preferred stocks today with 118.447 million units of its stocks worth N1.475 billion traded in 1,360 deals. 102.443 million units of WAPIC shares priced at N22.484 million exchanged hands in 43 transactions. GTB had 100.709 million shares valued at N1.830 billion traded in 909 deals. FBN Holdings traded 35.181 million shares estimated at N140.745 billion in 389 transactions. UBA traded 30.754 million shares valued at N155.447 million in 378 deals.

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