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Profit-taking sends equities lower

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The equities segment of the Nigerian Stock Exchange witnessed a weak bargain on Monday as investors opted to take profit following recent gains.

At the close of trading, the NSE All Share Index fell by 0.25 per cent to close at 42,784.30 basis points, much higher than the 0.06 per cent depreciation it recorded on Friday.

Monday’s drop saw the ASI’s year-to-date return fall to +3.52 per cent from +3.78 per cent on Friday.

The market capitalisation of the listed equities also fell by 0.25 per cent or N36bn to close at N14.127tn, as against the N8bn it shed in the previous session to close at N14.163tn.

Investors exchanged 535.076 million shares valued at N4.375bn in 5,862 deals on Monday with the banking sub-sector maintaining its lead on the activity chart in terms of volume traded.

In the sub-sector, 203.422 million shares worth N964.2m were traded in 1,659 deals. This accounted for 38 per cent, 22 per cent and 28 per cent of total volume, value and number of deals recorded on Monday.

Volume in the banking sub-sector was driven by trading in the shares of Skye Bank Plc, Unity Bank Plc, Fidelity Bank Plc and Wema Bank Plc.

A total of 33 equities recorded price appreciation, while 35 others recorded price depreciation.

Wema Bank topped the gainers, rising by 19.80 per cent or 20 kobo to close at N1.21 per share.

It was followed by Red Star Express and Mobil Nigeria Plc, which rose by 11.13 per cent and 10.25 per cent to close at N5.19 and N170.33 per share.

The Cement Company of Northern Nigeria Plc gained 6.93 per cent or 78 kobo to close at N12.04 per share, while Cutix Plc was up by five per cent or nine kobo to close at N1.89 per share.

On the other hand, Eterna Plc fell by 5.98 per cent or 26 kobo to close at N4.09 per share.

Unilever Nigeria Plc followed with a share price depreciation of 5.40 per cent or N2.86 to close at N50.14 per share.

Article Credit: Punchng

Updated 5 Years ago

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Tags:     Nigerian Stock Exchange     Skye Bank Plc     Unity Bank Plc     Fidelity Bank Plc     Wema Bank Plc.