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Nigeria: NSE – Profit-Taking in Dangote Cement, Flour Mills Puts a Stopper On Bull Run

nigeria nse profit taking in dangote cement flour mills puts a stopper on bull run

The consumer goods sector was worst hit by the downtrend of the five sectorial indices as it slid by 0.62% to 602.71 index points, further aiding losses.

A five-day gaining streak on the Nigerian stock market came to halt on Monday as profit-taking efforts in the shares of Dangote Cement, Flour Mills, Guinness, FBN Holdings and NASCON accounted for the most loss.

Speculators saw the substantial gain recorded throughout last week as a chance to recoup their investment even though this came at a cost to the bourse, with the day’s loss coming to N39.535 billion.

The consumer goods sector was worst hit by the downtrend of the five sectorial indices as it slid by 0.62% to 602.71 index points, further aiding losses.

However, trade ended with a positive breadth with 35 gainers recorded against 22 losers.

The All Share Index (ASI) dipped by 0.23% to close at 41,082.38 index points. Market capitalisation slipped to N21.491 trillion.

Year to date, the index is up by 2.02%.

TOP 5 GAINERS

RT Briscoe led the flock of gainers, appreciating by 10% to close at N0.22. Trans-Nationwide Express added up 10% to end trade at N0.88. Universal Insurance went up by 10% to N0.22. African Alliance Insurance rose to N0.22, notching up 10% in the process. Cadbury completed the top 5, climbing by 10% to N10.45.

TOP 5 LOSERS

Japaul Gold led losers at Friday’s trade, declining by 6.58% to close at N1.42. Flour Mills shed 5.49% to end trade at N31. Wema Bank fell to N0.71, losing 5.33%. Neimeth slumped to N2, recording 4.76% depreciation. GSK closed at N6.70, going down by 4.29%.

TOP 5 TRADES

738.525 million shares estimated at N4.173 billion were traded in 7,396 deals.

Living Trust was the most active stock with 272 million million of its stocks worth N163.200 million traded in 2 deals. 92.361 million units of Japaul Gold shares priced at N145.793 million exchanged hands in 520 transactions.

Universal Insurance had 51.789 million shares valued at N10.407 million traded in 72 deals. Transcorp traded 43.145 million shares estimated at N46.165 million in 83 transactions. FBN Holdings traded 39.767 million shares valued at N298.247 million in 299 deals.