NSE: Profit-taking in blue-chip stock costs investors N46bn

Trading in the equity segment of the Nigerian Stock Exchange (NSE) on Thursday ended in the negative as sell pressure on blue-chip stocks led by GTB, Flour Mills, Cadbury, UBA and Zenith Bank spurred a depreciation of N45.930 billion in market capitalisation.

The Banking Index was the worst performer of the five sectorial indices, falling 2.07% to 391.37 basis points.

The market recorded a negative breadth, causing 25 losers to emerge against 13 gainers.

The All Share Index (ASI) dipped by 0.25% to end the day at 34,968.94. Market capitalisation dropped to N18.277 trillion.

Year to date, the index is up by 30.28%.


Mutual Benefits topped the gainers’ chart, appreciating by 9.52% to close at N0.23. Royal Exchange added up 9.09% to end trade at N0.24. FTN Cocoa went up by 8% to N0.27. Ardova leapt to N14, notching up 7.69% in the process. Cutix completed the top 5, climbing up by 5.56% to N1.90.


Unity Bank led losers, declining by 9.86% to close at N0.64. Chams shed 8% to end trade at N0.23. NAHCO fell to N2.19, losing 6.81%. Consolidated Hallmark slumped to N0.28, recording 6.67% depreciation. ETI closed at N5.90, going down by 6.35%.


289.394 million shares estimated at N7.348 billion were traded in 4,878 deals.

UBA led trade with 34.452 million units of its stocks worth N283.444 million traded in 261 trades. 31.201 million units of Zenith Bank shares priced at N743.575 million exchanged hands in 508 transactions. MTNN had 27.412 million shares valued at N4.379 billion traded in 131 deals. Access traded 22.958 million shares estimated at N196.039 million in 316 transactions. Mutual Benefits traded 22.490 million shares valued at N5/063 million in 53 deals.

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