Market capitalisation sheds N54billion due to profit taking

Trading on the Nigerian Stock Exchange (NSE) opened on Monday on a negative note with the market capitalisation shedding N54 billion due to profit taking.

The market capitalisation, which opened at N8.773 trillion, lost N54 billion or 0.62 per cent to close at N8.719 trillion.

Also, the All-Share Index lost 158.02 points or 0.62 per cent to close at 25,349.07 as against the 25,507.09 posted on Friday.

Losers

Nestle topped the losers’ chart with N10 to close at N690 per share.

Nigerian Breweries trailed with a loss of N3.78 to close at N102.61 while Ashaka Cement dropped N2.22 to close at N20.58 per share.

Lafarge Africa decreased by N1.51 to close at N75 and Okomu Oil shed N1.49 to close at N28.36 per share.

Gainers

On the other hand, Seplat led the gainers’ table with N6.05 to close at N306.05 per share.

Total followed with a gain of N3.78 to close at N157.60 while Dangote Cement gained N1 to close at N172 per share.

Custodian and Allied Insurance grew by 18k to close at N3.90 and E-Tranzact increased by 13k to close at N2.80 per share.

An analysis of the activity chart showed that the volume of shares traded rose by 14.85 per cent due to the exchange of 242.69 million shares worth N1.65 billion in 3,213 deals.

This is in contrast with the 211.31 million shares valued at N1.01 billion transacted in 2,377 deals on Friday.

FCMB Group drove the activity chart, accounting for 48.36 million shares worth N45.02 million.

Fidelity Bank followed with 28.29 million shares valued at N37.33 million while GT Bank traded 24.97 million worth N35.28 million.

Transcorp sold 23.09 million shares valued at N23.85 million while FBN Holdings traded 15.64 million shares worth N53.85 million