NSE: Market capitalisation sheds N56bn as profit-taking persists 

The Nigerian equity market contracted further on Friday as profit-taking especially in Dangote Cement, Okomu Oil and Guinness caused investors to lose N55.640 billion.

A negative market breadth was recorded as 21 losers emerged against 13 gainers.

Across the sector indices, only the Industrial Index posted a positive performance, advancing by 2.67% to 1,219.69 basis points.

The All Share Index (ASI) fell by 0.43% to close at 24,826.75 basis points. The market capitalisation slumped to N12.951 trillion at the end of today’s trade.

Year to date, the index is down by 7.51%.

TOP 5 GAINERS

Cutix led gainers, growing by 10% to close at N1.76. Unity Bank gained 9.62% to close at N0.57. Chams rose by 8.70% to N0.25. ABC Transport leapt to N0.51, notching up 8.51% in the process. BUA Cement completed the top 5, climbing up by 6.28% to N44.

READ ALSO: NSE: Negative sentiment persists as investors lose N20.561bn

TOP 5 LOSERS

UPL topped the losers’ table, declining by 10% to close at N1.08. Neimeth shrank by 9.94% to end at N1.54. Tripple Gee tumbled to N0.53, losing 8.62%. dipped to N1.20, recording 7.69% loss. Sterling Bank slumped to N1.20, recording 7.69% depreciation. Caverton closed at N2, going down by 6.98%.

TOP 5 TRADES

174.677 million shares worth N2.010 billion were traded today in 3,695 deals.

Mutual Benefits was the most preferred stocks today with 26.587 million of its stocks worth N5,578 million traded in 56 deals. 12.659 million units of Zenith Bank shares priced at N205.706 million exchanged hands in 325 transactions. GTB had 12.116 million shares valued at N279.813 million traded in 247 deals. UBA traded 11.267 million shares estimated at N72.130 million in 167 transactions. FBN Holdings traded 9.886 million shares valued at N52.128 million in 221 deals.

Opinions