NSE: Market extends loss by N1.2bn as profit-taking deepens | Ripples Nigeria
Business Latest

NSE: Market extends loss by N1.2bn as profit-taking deepens

The equity segment of the Nigerian Stock Exchange (NSE) recorded loss for the second day on Wednesday as profit-taking continued among speculators, bringing the total market value down by N1.162 billion.

Sell pressure in the stocks of Cadbury, WAPCO, NEM, International Breweries and Zenith Bank were especially responsible for the downtrend.

A fall in the Insurance Index by 1.49% to 132.47 basis points also drove loss.

Market breadth was negative, with 21 losers emerging against 16 losers.

The All Share Index (ASI) slid by 0.19% to 25,550.31 basis points. Similarly, market capitalisation closed lower at N13.353 trillion at the end of today’s trade.

Year to date, the index is down by 4.81%.

TOP 5 GAINERS

Learn Africa led the flock of gainers, appreciating by 9.62% to close at N1.14. Berger Paints added 7.44% to end today’s trade at N6.50. Union Bank of Nigeria went up by 7% to N5.35. Oando rose to N2.35, notching up 4.44% in the process. Lasaco completed the top 5, climbing by 4% to N0.26.

READ ALSO: NSE: Bank stocks lead trade as market retreats into negative territory

TOP 5 LOSERS

Royal Exchange was the worst performing stock, declining by 10% to close at N0.27. NEM shed 9.78% to close at N2.03. Cadbury fell to N7.10, losing 8.39%. ABC Transport dipped to N0.33, recording 8.33% depreciation. Neimeth closed at N1.80, going down by 7.69%.

TOP 5 TRADES

211.816 million shares estimated at N2.418 billion were traded today in 3,651 deals.

FCMB was the most active stock today with 30.330 million units of its stocks worth N62.182 million traded in 27 deals. 20.974 million units of Access shares priced at N139.404 million exchanged hands in 249 transactions. UBA traded 18.570 million shares estimated at N109.651 million in 313 transactions. Zenith Bank traded 17.987 million shares valued at N306.340 million in 384 deals. FBN Holdings had 13.538 million shares valued at N67.407 million traded in 185 deals.

Ronald Adamolekun

Join the conversation

Opinions

About the author

Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

Do NOT follow this link or you will be banned from the site!
/* ]]> */