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NSE: Profit-taking in industrial goods stocks leads market to close in the negative



Investors lost about N84.487 billion on the Nigerian equity market today, largely due to heavy sell pressure on industrial goods stocks, which outweighed the volume buyers were willing to buy.

Consequently, the industrial index depreciated the most among all the sector indices, plunging by 2.16%.

The exchange recorded a positive market breadth with more gainers numbering 27 emerging as against losers, who were 12 in all. The All Share Index (ASI) fell by 0.71% to close at 22,543.07 basis points. Market capitalisation slumped to N11.748 trillion at the end of today’s trade. Year to date, the index is up by 16.02%


In value terms, Nigerian Breweries led gainers today, growing by 7.33% to close at N30. MTNN gained 2.04% to close at N95. WAPCO rose by 10% to N11. Stanbic leapt to N30.25, notching up 3.24% in the process. Zenith Bank completed the top 5, climbing up by 5.47% to N13.5.


Dangote Cement topped the losers’ table today, declining by 10% to close at N137.7. CAP shrank by 9.77% to end the day at N18. Ardova tumbled to N13.8, losing 9.80%. NASCON dipped to N8.55, recording 10% loss. International Breweries closed at N5.2, going down by 9.57%.

READ ALSO: Nigeria’s inflation rate climbs to near two-year high of 12.20%


675.911 million shares worth N8.059 billion were traded today in 7,368 deals.

Zenith Bank was the most preferred stocks today with 173.936 million units of its stocks worth N2.319 billion traded in 1,663 deals. 131.064 million units of GTB shares priced at N2.572 billion exchanged hands in 1,402 transactions. FBN Holdings had 119.267 million shares valued at N478.913 million traded in 645 deals. Access Bank traded 92.028 million shares estimated at N539.134 million in 563 transactions. UBA traded 31.471 million shares valued at N168.890 million in 426 deals.

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