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NSE: Market contracts by N277.598bn after profit-taking in big-cap equities

Sell-offs in big-cap stocks including Nestle and Dangote Cement and in consumer goods stock like Nigerian Breweries, Cadbury and International Breweries guided the Nigerian Stock Exchange (NSE) to a further loss on Tuesday as investors, wanting to recoup gains from a long bullish spell the bourse witnessed recently, continued profit-taking.

A fall in the Industrial Goods Index, which was the biggest decliner of the 5 sectorial indices, by 3.33% to 1,576.80 basis points also contributed to the loss.

Buy pressure on many stocks helped the market to add N134.473 billion.

A negative market breadth was reported as there were 30 losers against 17 gainers at the end of trade.

The All Share Index (ASI) dropped by 1.53% to close at 34,242.83 basis points. Market capitalisation closed lower at N17.893 trillion.

Year to date, the index is down by 6.34%.


BOC Gas led the gainers’ chart, appreciating by 9.96% to close at N5.85. GSK went up by 9.56% to N7.45. Conoil rose to N20.85, notching up 9.45% in the process. Mutual Benefits added 7.69% to end today’s trade at N0.28. Neimeth completed the top 5, climbing by 7.69% to N0.28.


Wapic was the worst performing stock, declining by 10% to close at N0.45. Oando shed 10% to close at N3.24. Portland Paint fell to N2.62, losing 9.97%. Livestock slumped to N1.18, recording 9.92% depreciation. Cadbury closed at N9.15, going down by 9.85%.


9.360 billion shares estimated at N12.021 billion were traded today in 8,712 deals.

Jaiz Bank was the most active stock for with 304.731 million units of its stocks worth N222.222 million traded in 66 deals. 94.949 million units of Transcorp shares priced at N97.926 million exchanged hands in 435 transactions. FBN Holdings had 82.407 million shares valued at N613.820 million traded in 693 deals. UBA traded 52.837 million shares estimated at N440.557 million in 494 transactions. Zenith Bank traded 46.335 million shares valued at N1.174 billion in 903 deals.

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Ripples Nigeria

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