PROFIT TAKING: NSE RECORDS FIRST LOSS IN FEBRUARY
Trading on the nation’s bourse swayed southward on Wednesday to record its first depreciation in February, shedding 0.15 per cent. Nigerian Stock Exchange news men reports that this was due to losses suffered by some blue chips as investors embarked on profit taking. Specifically, the All-Share Index lost 48.39 points or 0.15 per cent to close at 32,413.92 against 32,462.31 on Tuesday.
Market capitalisation followed, closing at N12.088 trillion as investors lost N18 billion or 0.15 per cent day on day (DoD) against N12.105 trillion posted on Tuesday. On the price movement chart, 19 stocks appreciated, led by Unilever with N4 to close at N44 per share. Okomu Oil followed with N2.80 to close at N85, while Nigerian Breweries and Cement Company of Northern Nigeria gained 95k each to close at N81 and N21.95 per share respectively.
Berger paints improved by 75k to close at N8.25 per share. However, 22 stocks depreciated, with Seplat leading the losers’ pack with N20 to close at N580 per share. Forte Oil followed with N1.70 to close at N28, while PZ Cussons shed N1.25 to close at N12 per share. Guaranty Trust Bank dropped N1 to close at N37.95, while C and I Leasing depreciated by 81k to close at N7.33 per share.
On the activity chart, Diamond Bank dominated in volume terms with 131 million shares worth N314 million. It was trailed by Zenith Bank with a turnover of 44.09 million units worth N1.1 billion, while United Bank for Africa sold 40.61 million shares valued at N319 million. Transcorp accounted for 30.31 million units worth N47 million, while FCMB Group exchanged 25.78 million shares valued at N60 million. In all, investors exchanged 470.39 million shares worth N4.24 billion in 5,858 deals, lower than 580.41 million units, valued at N8.03 billion that was exchanged in 7,052 deals on Tuesday.