Market indices nosedive by 0.96% after 4 days growth

Trading Floor of the Nigerian Stock Exchange (NSE)

After four days of upward movement, market indicators of the Nigerian Stock Exchange (NSE) dropped by 0.96 per cent, following profit taking on Friday.

The All-Share Index shed 372.88 points to close lower at 38,669.23, compared with 39,042.11 recorded on Thursday.

Similarly, the market capitalisation which opened at N14.142 trillion lost N137 billion or 0.96 per cent to close at N14.007 trillion.

Seplat recorded the highest loss, to lead the laggards’ table dropping by N23.90 to close at N711.10 per share.

SkyeShelter trailed with a loss of N5 to close at N95, while Dangote Cement Industries declined by N3.40 to close at N235.50 per share.

International Breweries lost N1.80 to close at N41 .80, while Cement Company of Northern Nigeria was down by N1.40 to close at N26.60 per share.

Conversely, Nestle led the gainers’ table for the day, gaining N20.20 to close at N1,450.20 per share.

Mobil Oil followed with a gain of N8.30 to close at N174.30, while Unilever gained N2 to close at N55.20 per share.

Stanbic IBTC appreciated by 70k to close at N48.20, while Cadbury grew by 60k to close at N12.65 per share.

In the same vein, the volume of shares traded dropped by 57.32 million shares valued at N3.89 billion achieved in 4,141 deals.

This was against the 492.05 million shares worth N7.62 billion exchanged in 4,726 deals on Thursday.

Dangote Sugar Refinery was the most active stock for the day, trading 27.93 million shares worth N539.19 million.

It was followed by FBN Holdings with an account of 23.23 million shares, valued at N247.73 million.

Guaranty Trust Bank traded 19.88 million shares worth N1.01 billion, while FCMB Group sold 14.04 million shares valued at N33.86 million.

Amaka E. Nliam