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NSE: Profit-taking in industrial and bank stocks halts bull run

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The seven-day bull run on the equity segment of the Nigerian Stock Exchange (NSE) ended on Thursday after investors took profit in some blue-chip industrial and bank stocks led by Dangote Cement, WAPCO, Access, and Zenith.

Consequently, the two sectors were the day’s worst performer among the five sectoral indices assessed, with the Industrial Index going down by 0.37% to 1,119.18 basis points and the Banking Index by 0.33% to 292.88 basis points.

A negative market breadth was recorded as 19 losers emerged against 11 gainers.

The All Share Index (ASI) edged down by 0.10% to 25,304.25 basis points. Similarly, market capitalisation depreciated, falling by N13.484 billion to N13.201 trillion at the end of trade.

Year to date, the index is down by 5.73%.

TOP 5 GAINERS

May & Baker led the flock of gainers, appreciating by 9.89% to close at N3. UPL added up 9.40% to end today’s trade at N1.63. Mansard went up by 6.36% to N1.84. Jaiz Bank rose to N0.63, notching up 5% in the process. Nigerian Breweries completed the top 5, climbing by 2.78% to N37.

READ ALSO: NSE: Bull run continues as market adds N20bn

TOP 5 LOSERS

Consolidated Hallmark Insurance was the worst-performing stock today, declining by 8.11% to close at N0.34. Fidson shed 7.25% to close at N3.71. Lasaco fell to N0.31, losing 6.06%. Livestock dipped to N0.60, recording 4.76% depreciation. Chams closed at N0.21, going down by 4.55%.

TOP 5 TRADES

251.296 million shares estimated at N1.579 billion were traded today in 2,954 deals.

UACN was the most active stock today with 111.872 million units of its stocks worth N643.188 billion traded in 58 deals. 24.966 million units of UBA shares priced at N154.480 million exchanged hands in 174 transactions. FBN Holdings traded 20.897 million shares estimated at N104.540 million in 197 transactions. Access Bank traded 13.932 million shares valued at N87.473 million in 218 deals. Transcorp had 7.909 million shares valued at N4.551 million traded in 55 deals.

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