NSE Index Drops by 0.44% amid Profit Taking

By Modupe Gbadeyanka

The Nigerian stock market depreciated on Tuesday for the first time in five days amid profit taking by investors.

The Nigerian Stock Exchange (NSE) slumped by 0.44 percent at the close of trading activities, leaving investors to lose N39.1 billion.

Guinness was the biggest loser today after going down by N3.15k to finish at N60.3k per share, while Forte Oil trailed with a loss of N1.30k to end at N46.53k per share.

Ecobank declined by 40k to close at N9.40k per share, Cadbury fell by 39k to end at N7.41k per share and GTBank sank by 36k to finish at N26.79k per share.

However, Mobil went up by N4.99k to top the gainers’ chart, closing at N298.99k per share.

Julius Berger progressed by N2 to finish at N40 per share, while Total advanced by 45k to close at N275 per share.

NASCON increased by 32k to end at N7.12k per share and CCNN added 20k to finish at N4.70k per share.

The volume of shares traded on the floor of the NSE dropped today with investors transacting a total of 153.7 million shares in 2,675 deals worth N1.5 billion compared with 495.2 million shares exchanged yesterday in 2,587 deals valued at N2.6 billion.

Business Post correspondent reports that the All-Share Index weakened on Wednesday by 112.98 points to finish at 25,558.57 points, while the market capitalisation depreciated by N39.1 billion to close at N8.8 trillion.