NSE: Investors lose N119 billion to intense profit-taking 

The Nigerian equities market extended last week’s losses on Monday as profit-taking efforts caused investors to dump large volumes of stocks for sale.

The market shed N119.158 billion in value on account of large-cap losses led by MTNN, BUA Cement and Zenith Bank.

Across sector indices, the Banking Index took the worst hit, falling by 1.93% to 294.22 basis points.

The market posted a negative breadth as 27 losers emerged against 16 gainers.

The All Share Index (ASI) shrank by 0.91% to close at 24,954.32 basis points. Market capitalisation fell to N13.018 trillion at the end of today’s session.

Year to date, the index is down by 7.03%.

TOP 5 GAINERS

Red Star Express led gainers, appreciating by 10% to close at N3.63. Fidson grew by 10% to end today’s trade at N3.30. Cornerstone went up by 9.80% to N0.56. Honeywell Flour Mills rose to N1.01, notching up 9.78% in the process. Mansard completed the top 5, climbing up by 8.77% to N0.62.

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TOP 5 LOSERS

Prestige Assurance topped the losers’ chart today declining by 10% to close at N0.63. Neimeth shed 9.73% to end today’s trade at N2.32. AIICO fell to N1.07, losing 9.32% in the process. AIICO slumped to N5.05, recording 7.34% depreciation. UACN Property closed at N0.97, going down by 6.73%.

TOP 5 TRADES

237.653 million shares estimated at N1.609 billion were traded today in 4,808 deals.

FBN Holdings was the most active stock with 24.351 million of its stocks worth N128.757 million traded in 263 deals. 24.136 million units of Zenith Bank shares priced at N390.360 million exchanged hands in 580 transactions. FCMB had 19.468 million shares valued at N33.483 million traded in 80 deals. Caverton traded 17.374 million shares estimated at N39.017 million in 75 transactions. UBA traded 14.639 million shares valued at N95.741 million in 264 deals.

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