NSE: Profit-Takers Batter All-Share Index by 0.12%

By Dipo Olowookere

Activities of profit-takers on the floor of the Nigerian Stock Exchange (NSE) battered the bourse by 0.12 per cent on Thursday.

Most of the sell-offs occurred in the insurance, consumer goods and banking sectors, which made their respective index to decline by 6.70 per cent, 0.30 per cent and 0.23 per cent.

It was observed that the gains recorded in the industrial and energy sectors, which rose by 0.27 per cent and 0.15 per cent respectively, could not extend the rally of the exchange.

At the close of transactions, the All-Share Index (ASI) depreciated by 48.57 points to end at 41,099.15 points in contrast to the previous 41,147.72 points, while the market capitalisation decreased by N26 billion to settle at N21.499 trillion versus N21.525 trillion it closed on Wednesday.

Business Post observed that there was an upsurge in the volume of Transcorp shares traded yesterday. The firm, which acquired the stakes of Shell and others in OML 17 recently, transacted 428.3 million units worth N559.2 million to emerge the most active stock of the day.

GTBank sold 62.1 million shares valued at N2.1 billion, Sovereign Trust Insurance exchanged 61.4 million equities for N20.9 million, Mutual Benefits transacted 58.5 million stocks worth N31.1 million, while Universal Insurance traded 38.1 million shares for N9.8 million.

When trading activities were wrapped up on Thursday, a total of 1.1 billion shares worth N6.4 billion exchanged hands in 7,404 deals in contrast to the 646.6 million shares worth N4.6 billion traded in 6,296 deals at the midweek session, signifying 72.61 per cent rise in the trading volume, 38.72 per cent increase in the trading value and 17.60 per cent spike in the number of deals.

Lafarge Africa was the best-performing stock yesterday with a price appreciation of N1.45 to close at N27.95 per unit, while Northern Nigerian Flour Mills gained 88 kobo to close at N9.68 per share.

Ardova appreciated by 70 kobo to sell for N20.45 per unit, NCR Nigeria grew by 25 kobo to N2.84 per share, while Champion Breweries gained 16 kobo to quote at N1.78 per unit.

On the other hand, MRS Oil ended the day as the worst-performing stock after it depreciated by N1.35 to quote at N12.40 per share and was trailed by Cadbury Nigeria, which lost N1.05 to sell for N9.75 per unit.

Flour Mills depreciated by 90 kobo to end at N31.60 per share, Dangote Cement dropped 50 kobo to settle at N234 per unit, while Guinness Nigeria declined by 45 kobo to close at N18.50 per share.