Nigerian bourse sheds N65bn to profit takings

The market capitalisation of the Nigerian Stock Exchange (NSE) which opened the week on Monday at N16,154 trillion closed the day at N16,089 trillion while the market All-Share Index which was 45,092.83 basis points at the close of market activities on Friday came down to 44,912.53 at the close of trading transactions on Monday.

Invariably, investors on the Exchange recorded a loss lost of N65 billion from their investment as result of profit taking.

The market recorded 26 gainers and 26 losers emerged at the end of Monday’s trading. Transcorp Plc led the laggards with 9.20 per cent to close at N2.27 from N2.50 per share, followed by Unilever Nigeria Plc, which went down by 5.96 per cent to close at N44.20 from N47.00.

Sterling Bank Plc fell by 4.80 percent to close at N2.18 from N2.29; Diamond Bank Plc depreciated by 4.76 percent to close at N3.40 from N3.57, while Honeywell Flour Mills Plc dropped by 4.75 percent to close at N3.10 from N3.16 per share.

On the other hand, Caverton Offshore Group Plc led the gainers table with 9.91 per cent to close at N2.44 from N2.22.

Wema Bank trailed behind with 9.40 per cent price gain to close at N1.28 from N1.17 per share, followed by Skye Bank Plc that appreciated by 9.30 percent to close at N1.41 from N1.29 per share.

Unity Bank Plc and Cadbury Nigeria Plc appreciated by 6.56 per cent and 6.18 per cent  to close at N1.30 and N15.99 from N1.22 and N15.06 per share respectively.