Equity declines by 0.31% amid profit taking

 

THE Nigerian equities market All Share Index shed 31 basis points today after a bullish run that lasted three trading sessions as a previous close of 37,365.91 points dropped by 0.31 percent to close at 37,250.78 points.
In the same vein, the market capitalization logged at N12.954 trillion and market breadth swung in favor of the bears as 24 losers outnumbered 18 gainers.
The sectors’ performance chart was dominated by negative indices as NSE 30 Index, NSE Banking Index, NSE Consumer Goods Index and NSE Lotus Islamic Index closed in the red zone while NSE Insurance Index and NSE Oil & Gas Index closed in the green zone. NSE Industrial Goods Index and NSE Alternative Securities Market (ASEM) Index maintained their previous closes.
Trade volume inched higher by 8.29 percent from a previously recorded close of 870 million shares to 942 million shares today. On the other hand, trade value dropped by -5.17 percent to close at N4.77 billion from a previous close of N5.04 billion.
Wapic Insurance Plc, Tantalizer Plc, Fidelity Bank Plc, Zenith Bank Plc and Transnational Corporation of Nigeria Plc (Transcorp) were the equities that topped the volume-based performance chart for today while Dangote Cement Plc, Zenith Bank Plc, International Breweries Plc, Nigerian Breweries Plc and Wapic Insurance Plc topped the volume-based ranking in order of appearance.