Nigeria Stock Exchange Watch: ASI sheds 0.7% on profit taking

Profit taking by some investors halted the seven days of bullish run in the equities segment of the Nigerian Stock Exchange. The NSE All-Share Index fell by 0.72 per cent to close at 33,219.20 points, as against the increase of 1.20 per cent recorded the preceding day to close at 33,460.14 points.

Market capitalisation depreciated by N77.1bn to close at N10.6trn, in contrast to the appreciation of N126.6bn recorded the preceding day to close at N10.7trn. On the sectorial indices, the NSE 30-Index lost 0.74 per cent to close at 1,595.75 points, while the Oil and Gas Index shed 0.10 per cent to close at 182.54 points. The Consumer Goods Index dropped by 0.20 per cent to close at N980.83 points, while the Insurance Index rose by 1.74 per cent to close at N156.36 points.

The Banking Index fell by 2.77 per cent to close at 411.19 points, while the Lotus Islamic Index dipped by 0.10 per cent to close at N2, 100.81 points. Wema Bank Plc led the gainers’’ table with 12 kobo or 9.84 per cent to close at N1.34 per share, followed by DN Meyer Plc with 12 kobo or 9.68 per cent to close at N1.36 per share. Prestige Insurance Plc rose by nine kobo or 9.68 per cent to close at N1.02 per share, while Royal Exchange Plc gained seven kobo or 8.97 per cent to close at 85 kobo per share.

Fidson Healthcare Plc appreciated by 12 kobo or 7.79 per cent to close at N1.66 per share. On the flip side, Transcorp Plc lost 80 kobo or 7.69 per cent to close at N1.71 per share, while NASCON Plc shed 73 kobo or 7.13 per cent to close at N9.51 per share. Chellaram Plc dipped by 73 kobo or 7.13 per cent to close at N5.43 per share, while Eterna Oil Plc declined by 20 kobo or 4.78 per cent to close at N3.98 per share. Union Bank of Nigeria Plc depreciated by 80 kobo or 7.69 per cent to close at N9.60 per share.

Transaction volume in equities dropped by 25.7 per cent, as a total of 710.48 million shares worth N3.98bn were exchanged in 7,293 deals, compared to 944.10 million shares valued at N6.52bn traded in 8,485 deals the preceding day