Profit-taking dips equities market marginally by 0.1 per cent

Stocks trading in the local bourse turned bearish, following profit-taking in some large capitalised stocks, leaving the All Share Index (ASI) 0.1 per cent lesser at 41,099.15 basis points.

Specifically, profit booking of the shares Dangote Cement, Mansard Insurance and United Bank for Africa impacted on the overall trading at the Nigerian Stock Exchange (NSE), on Thursday, as they decline by 0.2 per cent, 9.8 per cent and 1.7 per cent respectively.

This brings the Year-to-Date(YtD) return down to +2.06 per cent, as the market capitalisation stands at N21.50 trillion.
Market breadth followed suit to close strongly in favour of the bears, with 14 advancers in the gainer’s chart as opposed 50 losers.

On the performance chart, Multiverse, NN Flourmills, Champion Breweries, NCR and TransExpress led the gainer’s chart as the best-performing stocks today, whereas Chams, Prestige Insurance, Tourist, MRS and MANSARD Insurance led the chart from the rear.

The sectoral performance was mixed, following gains in the Industrial Goods and Oil & Gas indices at 0.3 per cent and 0.2 per cent respective growth; and losses in the Insurance, Consumer Goods and Banking indices at 6.7 per cent, 0.3 per cent and 0.2 per cent respectively.

Market activity as measured by the volume of trades gained further steam, as daily traded volumes recorded 1.121 billion as against 649 million recorded in the previous trading session, amounting to a 72.61 per cent surge.

Value of trades followed suit to increase by 38.72 per cent to stand at N6.398 billion from the value of N4.612 billion recorded in the previous trading session.

Transnational Corporation, Guaranty Trust Bank, Sovereign Insurance, Mutual Benefits and Universal Insurance are the top five performers in terms of volume of units traded, while Guaranty Trust Bank, Zenith Bank, WAPCO, Transnational Corporation and MTN Nigeria made up the top five performers in terms of the value of trade.

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Profit-taking dips equities market marginally by 0.1 per cent

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Profit-taking dips equities market marginally by 0.1 per cent

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