Home Business Equities Market Drops Further by N68bn Over Investors Profit-taking

Equities Market Drops Further by N68bn Over Investors Profit-taking


The bears maintained dominance on the equities market segment of the Nigerian Stock Exchange (NSE) on Friday with the market capitalisation dropping further by N68 billion.

Specifically, the market capitalisation dropped N68 billion or 0.46 per cent to close at N14.852 trillion against N14.920 trillion.

Also, All-Share Index which opened at 28,546.22 basis points lost 130.91 basis points or 0.46 per cent to close at 28,415.31 basis points.

Sector performances were mixed on Friday as the Banking (-2.48 per cent) and Industrial (-0.08 per cent) sectors closed in the red, while the Oil & Gas (+0.30 per cent) and Consumer Goods (+0.13 per cent) sectors closed positively.

Guaranty Trust Bank topped the losers’ chart, dropping by N1.60 to close at N30.40 per share.

Dangote Cement trailed with 50k to close at N150, while PZ was down by 40k to close at N4.10 per share.

United Capital dipped 17k to close at N3.54, while Ecobank Transnational Incorporated dropped 15k to close at N4.30 per share.

On the other hand, Total led the gainers’ table, rising N5.20 to close at N102 per share.

Eterna followed with 33k to close at N3.63, while International Breweries garnered 14k to close at N4.72 per share.

BUA Cement added 10k to close at N41.50, while Custodian Investment also gained 10k to close at N5.25 per share.

In the same vein, the volume of shares traded closed lower with an exchange of 384.14 million shares worth N3.99 billion in 5,759 deals.

This was against a turnover of 569.38 million shares valued at N4.91 billion exchanged in 6,101 deals on Thursday.

Caverton was the most active, accounting for 52.16 million shares worth N93.79 million.

Zenith Bank followed with 49.97 million shares valued at N1 billion, FBN Holdings traded 49.32 million shares worth N306.66 million.

Guaranty Trust Bank sold 32.62 million shares valued at N1.02 million, while Access Bank exchanged 27.17 million shares worth N215.18 million.


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