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Nigeria: Nigerian Stocks Shed N274bn On Profit-Taking in Blue-Chip Equities

Market breath closed on a negative note, with 25 losers recorded compared to 19 losers.

<a target=”_blank” href=”https://ngxgroup.com/”>Nigerian stock</a>s’ loss deepened Wednesday, with the benchmark index dipping by 1.33 per cent as profit-taking efforts on blue-chip equities weighed.

The industrial index took the heaviest bashing of the five sectorial indices tracked by the exchange, sliding by 3.55 per cent to 1,836.88 basis points

Market breath closed on a negative note, with 25 losers recorded compared to 19 losers.

The all-share index closed at 38,781.48 basis points. Market capitalisation declined N274 billion to N20.296 trillion.

Year to date, the index is down by 3.7 per cent.

TOP FIVE GAINERS

Consolidated Hallmark led gainers, growing by 10 per cent to close at N0.33. Portland Paint gained 8.33 per cent, jumping to N2.60.. Royal Exchange leapt to N0.45, notching up 7.14 per cent in the process.

ABC Transport rose by 6.90 per cent to N0.31. Japaul Gold completed the top 5, climbing up by 5.17 per cent to N0.61.

TOP FIVE LOSERS

FTN Cocoa topped the losers’ table, declining by 10 per cent to close at N0.36. Neimeth shrank by 8.95 per cent to end the day at N1.73. International <a target=”_blank” href=”https://www.premiumtimesng.com/business/business-news/457718-transcorp-nigerian-breweries-gtb-drive-gains-as-bull-run-continues.html”>Breweries</a> fell to N5.20, losing 8.77 per cent.

PZ dipped to N5, recording 7.41 per cent depreciation. Dangote Cement Cement closed at N204, going down by 7.27 per cent.

TOP FIVE TRADES

In all, 259.512 million shares worth N1.910 billion were traded in 3,547 deals.

FBN Holdings was the most preferred stock with 69.478 million units of its shares worth N514.304 million traded in 243 deals.

Transcorp’s shares of 36.724 million units priced at N32.972 million exchanged hands in 157 transactions. Zenith had 16.580 million shares valued at N366.426 million traded in 365 deals.

Sovereign Trust traded 12.580 million shares estimated at N2.879 million in 13 transactions. UCAP traded 8.886 million shares valued at N50.222 million in 144 deals.