Stock Market Fall By N39bn On Profit-taking

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Nigerian equity Monday began week a negative note as investors continued profits increase capital gains.

key performance indicator, the All-Share Index, declined by 0.21 per cent as bargain widened sell-offs profits from gains recorded last week.

The breadth closed positive with 17 losers against 15 gainers. Consequently, the All-Share Index dipped 73.63 basis points or 0.21 per cent to close at 35,326.36 index points as against 35,137.99 recorded in the previous trading session.

The market capitalisation of equities depreciated by N39bn from N18.37tn last Friday to N18.33tn as market sentiment remained in the negative territory.

Meanwhile, a turnover of 324.32 shares exchanged in 4,108 deals recorded in the day’s trading.

The premium subsector the most active (measured by turnover volume), with 184.91 shares exchanged by investors in 1,336 deals.

The volume in the subsector largely driven by activities in the shares of UBA Plc and FBNH Bank Plc.

Also, the banking sub-sector was boosted by the activities in the shares of Guaranty Trust Bank Plc and Ecobank Plc, with a turnover of 38.21 shares in 880 deals.

Further analyses of the day’s trading showed in percentage terms, Feeds Plc topped the day’s gainers’ table with 9.92 per cent to close at N1.33 per share while NNFM Plc followed with 9.90 per cent to close at N6.88 per share.

FTN Cocoa Plc added 6.90 per cent to close at 31 kobo per share.

the flip side, TRANSCOHOT Plc led the losers’ with a drop of 10 per cent to close at N3.60 per share while ETI Plc shed 8.47 per cent to close at N5.40 per share.

NPFMFB Plc shed 5.06 per cent to close at N1.50 per share.