Stock Market Down By N9bn On Profit-taking
The Nigerian equity market, on Thursday, sustained negative sentiment to three consecutive trading sessions as investors continued to take profits to increase capital gains.
The key market indicator, the Nigerian Stock Exchange All-Share Index declined by 0.07 per cent as bargain hunters continued to take profits from gains recorded last week.
However, the market breadth closed on a positive note with 17 losers against 11 gainers.
The ASI dipped 17.57 basis points or 0.07 per cent to close at 25,532.74 as against the 25,550.31 recorded the previous day while the market capitalisation of equities depreciated by N9bn to close at N13.34tn from N13.35tn.
Meanwhile, a turnover of 231.20 million shares exchanged in 3,360 deals was recorded in the day’s trading.
Premium subsector was the most active during the day (measured by turnover volume), with 106.38 million shares exchanged by investors in 1,368 deals.
Volume in the subsector was largely driven by activities in the shares of FBN Holdings Plc and Access Bank Plc.
The banking subsector was boosted by activities in the shares of Wema Bank Plc and Guaranty Trust Bank Plc, with a turnover of 42.61 million shares traded in 455 deals.
Shares of International Breweries Plc led the gainers chart, appreciating by 10 per cent to close at N3.30 per share.
Wapic Plc followed with a gain of 9.09 per cent to close at 36 kobo per share while NPF MFB Plc gained 8.33 per cent to close at N1.30 per share.
On the flip side, shares of Tripple G Plc led the losers with a loss of 9.09 per cent to close at 40 kobo per share.
Caverton Nigeria Plc plunged by 8.60 per cent to close at N1.70 per share while Dangote Sugar Plc dropped 5.88 per cent to close at N11.20 per share.