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Profit taking: NSE All-Share Index drops to 25,0000 mark

by Business News Report

The All-Share Index of the Nigerian Stock Exchange (NSE) on Monday dropped to 25,000 mark due to persistent sell pressure and exit of foreign investors. The index shed 184.07 points or 0.70 per cent to close at 25,986.81 compared with 26,170.88 achieved on Friday.

Similarly, the market capitalisation shed N64 billion, declining to N8.945 trillion against N9.009 trillion posted on Friday as a result of profit taking. Major blue chips recorded price depreciation and this was led by Forte Oil with a loss of N10.18 to close at N94.32 per share. CAP came second on the losers’ chart with a loss of N1.65 to close at N33.75 and Guinness shed N1 to close at N89 per share. PZ Industries was down by 72k to close at N15.77, while Zenith Bank depreciated by 63k to close at N14.50 per share.

On the other hand, UACN recorded the highest gain to lead the gainers’ table, gaining 9k to close at N17.76 per share. Access Bank followed with a gain of 6k to close at N5.36 and May & Baker increased by 4k to close at 89k per share. Mansard Insurance improved by 3k to close at N1.87 and Live Stock Feeds appreciated by 2k to close at 82k per share.

MTI emerged the most active stock in volume terms, accounting for 33 million worth N16.50 million.

It was trailed by UBA with an exchange of 23.31 million shares valued at N100.23 million, while Wema Bank accounted for 10.52 million shares worth N6.62 million.

Guaranty Trust Bank traded 9.91 million shares valued at N214.59 million, while Diamond Bank exchanged 9.24 million shares worth N9.29 million. Investors bought and sold 160.91 million shares valued at N1.12 billion transacted in 2,431 deals. This was in contrast with 2.26 million shares worth N2.63 billion traded in 3,346 deals on Friday.


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