Profit takers drag equity market down by N81bn
Profit takers drag equity market down by N81bn
By Kayode Ogunwale
The Nigerian equities market slumped from previous trading session gain as profit taking flood the market.
The local bourse shed 0.88 per cent to peg the year till date returns to -1.97 per cent, while the index and market capitalization closed at 26,346.24 basis points and N9.065 trillion respectively.
A total turnover of 372.853 million shares worth N1.333 billion in 4,068 deals were traded today by investors on the floor of the exchange in contrast to a total of 219 million shares valued at N1.4 billion that exchanged hands previous day in 3,423 deals.
Banking stocks retained their positions at the top of activity chart, as Omoluabi Savings and Loans Plc emerged the topmost traded stock with 93.5 million shares worth N83.945 million. Fidelity Bank Plc followed with 39.365 million shares worth N36.025 million while FCMB Plc was next with 37.135 million shares amounting to N49.497 million.
Custodian Insurance Plc came fourth on the day’s activity chart having traded 35.944 million units of shares valued at N134.789 million while Diamond Bank Plc was fifth with 27.865 million shares worth N27.877 million.
The market breadth ratio stood to 0.72 indicating 25 stocks decliners as against 19 stocks advancers.
UCA-Property Plc led the gainers table by 5.00 per cent to close at N3.15 kobo per share, followed by Continental Reinsurance Plc with an increase of 4.76 per cent to close at N1.10 kobo per share. Nigerian Aviation Handling Company of Nigeria (NAHCO) Plc grew 4.63 per cent to close at N2.71 kobo per share while Air Services and Logistics Plc appreciated by 4.40 per cent to close at N2.61 kobo per share.
On the losers side table, Cutix Plc declined by 9.52 per cent to close at N1.71 kobo, Caverton Offshore Support Group Plc dropped 9.30 per cent to close at N0.78 kobo per share, 7-Up Bottling Company Plc fell 9.10 per cent to close at N111.40 kobo per share and Fidson Healthcare Plc dropped 4.51 per cent to end the day with N1.27 kobo per share.
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