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Major blue chips drop price on NSE


Lagos – Some major blue chips at the Nigerian Stock Exchange (NSE) on Tuesday recorded further price depreciation as a result of profit taking by investors.

The News Agency of Nigeria (NAN) reports that Nigerian Breweries topped the price losers’ chart, dropping N5.88 to close at N112.12 per share.

Guinness trailed with a loss of N3 to close at N113, while Julius Berger depreciated by N2.16 to close at N41.15 per share.

PZ Cussons went down by N1.34 to close at N25.59, while GTBank dipped by 85k to close at N20.70 per share.

The All-Share Index lost 676.25 points to close at 28,537.88 against 29,214.13 recorded on Monday.

Also, the market capitalisation dipped by N113 billion or 1.13 per cent to close at N9.900 trillion compared with N10.013 trillion achieved on Monday.

On the other hand, Stanbic IBTC led the gainers’ table with 20k to close at N18.20 per share.

Fidson followed with a gain of 9k to close at N3.30, while Fidelity Bank grew by 6k to close at N1.26 per share.

Access Bank also gained 3k to close at N4.50, while Costain appreciated by 2k to close at 59k per share.

In all, investors staked N2.92 billion on 604.02 million shares in 4,088 deals in contrast to the 257.74 million shares worth N2.78 billion traded in 4,247 deals on Monday.

Resortsal was the toast of investors, accounting for 164.84 million shares worth N82.42 million transacted by investors in three deals.

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UBA followed with a total of 124.45 million shares valued N374.38 million in 259 deals, while Transcorp sold 55.89 million shares worth N120.35 million, exchanged by investors in 320 deals.(NAN)

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