NSE: Profit-taking in blue-chip stocks halts bull run

The bull run in the equity section of the Nigerian Stock Exchange (NSE) ended on Monday as profit-taking activities in some blue-chip stocks caused trade to end in the negative territory.

Depreciation recorded by GTB, Dangote Sugar, Red Star Express, UBA and Zenith contributed significantly to the loss.

The Banking Index posted the day’s worst show among the five sectorial indices, going down by 0.70% to 299.98 basis points.

The market recorded ended with a positive breadth, causing 16 gainers to emerge against 15 losers. The All Share Index (ASI) dipped by 0.09% to end the day at 25,582.23 basis points. Market capitalisation diminished to N13.346 trillion.

Year to date, the index is down by 4.69%.

TOP 5 GAINERS

Eterna topped the gainers’ chart, appreciating by 19.13% to close at N2.27. NEM added up 8.70% to end today’s trade at N2.25. C&I Leasing went up by 8.33% to N3.90. UACN Property leapt to N0.99, notching up 7.61% in the process. Red Star Express completed the top 5, climbing up by 2.74% to N3.75.

READ ALSO: NSE: Bank, oil & gas stocks drive gains as market advances by N49bn

TOP 5 LOSERS

Honeywell led losers, declining by 6.25% to close at N0.90. Chams shed 4.55% to end today’s trade at N0.21. Red Star Express fell to N3.72, losing 4.37%. Neimeth slumped to N1.80, recording 3.74% depreciation. Union Diagnostic closed at N0.26, going down by 3.70%.

TOP 5 TRADES

254.974 million shares estimated at N2 billion were traded today in 4,699 deals.

UBA led trade with 44.349 million units of its stocks worth N291.992 million traded in 345 trades. 30.821 million units of Zenith shares priced at N536.111 million exchanged hands in 581 transactions. Access had 29.115 million shares valued at N196.625 million traded in 446 deals. Custodian traded 26.390 million shares estimated at N126.688 million in 32 transactions. FBN Holdings traded 19.828 million shares valued at N98.633 million in 256 deals.

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