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NSE: Profit-taking in heavyweight stocks halts one-day rally

Profit-taking in heavyweight stocks ended Monday’s rebound of the equity market of the Nigerian Stock Exchange (NSE) on Tuesday, with Seplat, Total, MTNN, Julius Berger and GTB posting significant losses.

A 5.20% slump in the Oil and Gas Index, which took the heaviest bashing among the five sectors assessed, also contributed to the downturn.

A negative market breadth was posted with 17 losers recorded against 14 losers.

The All Share Index (ASI) slumped by 0.54% to close at 24,650.16 basis points. Market capitalisation closed at N12.859 trillion, N69.615 billion weaker than that of the session before.

Year to date, the index is up by 8.17%.

TOP 5 GAINERS

Berger, led gainers, appreciating by 10% to close at N6.05. Mutual Benefits added up 10% to end trade at N0.22. Unity Bank went up by 8.77% to N0.62. Okomu Oil rose to N74.95, notching up 6.31% in the process. Oando completed the top 5, climbing up by 5.58% to N2.27.

READ ALSO: NSE: Industrial and bank stocks drive N186bn bullish comeback

TOP 5 LOSERS

Total topped the losers’ chart, declining by 9.95% to close at N87.80. Total shed 9.82% to end trade at N282. NPF Microfinance Bank fell to N1.31, losing 7.75% in the process. UACN slumped to N6.80, recording 6.85% depreciation. Julius Berger closed at N15, going down by 6.25%.

TOP 5 TRADES

150.399 million shares estimated at N1.978 billion were traded in 3,780 deals.

Mutual Benefits was the most active stock with 26.924 million of its stocks worth N5.559 million traded in 40 deals. 17.037 million units of FBN Holdings shares priced at N84.158 million exchanged hands in 254 transactions. Access had 11.238 million shares valued at N69.798 million traded in 161 deals. WAPCO traded 10.612 million shares estimated at N130.778 million in 332 transactions. GTB traded 8.453 million shares valued at N190.444 million in 346 deals.

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