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    Profit-Taking Persists as Investors’ Wealth Dip ₦81Billion

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    Investors in the Nigeria equity market sustained the previous day’s profit-taking in Industrial Goods and Insurance sectors.

    The decline was driven by the price depreciation in some blue-chip stocks such as DANGCEM, NGXGGROUP, GTCO and 11 others.

    As a result, the market index (All-Share Index) sheds 150.07 basis points, representing a decline of 0.34 percent to close at 44,454.67.

    While the Market Capitalization lost ₦80.86Bn, representing a decrease of 0.34 percent to close at ₦23.95 trillion.

    → However, the market activities were bullish as the Total Volume and Value traded rose by 26.10 percent and 168.88 percent, respectively.

    405.74 million units valued at ₦9.83 billion were transacted in 3,880 Deals.

    Meanwhile, BUAFOODS led as the most traded stock in terms of volume, accounting for 25.36 percent of the total volume of trades, followed closely by TRANSCORP (23.93%), ACCESS (8.18%), FBNH (6.54%), and JAIZBANK (6.39%) to complete the top five on the volume chart.

    Also, BUAFOODS emerged as the most traded stock in value terms, with 68.79 percent of the total value of trades on the exchange.

    → FIDSON topped the gainers’ chart with price appreciation of 9.65 percent, trailed by JBERGER (3.64%), STERLNBANK (3.29%), UCAP (1.83%), LIVESTOCK (1.43%), HONYFLOUR (1.20%), NB (1.10%), AFRIPRUD (0.78%), UBA (0.61%) and five (5) others.

    On the contrary, seventeen (17) stocks declined in price, led by SUNUASSUR with price depreciation of 8.82 percent to close at ₦0.31 as JAPAULGOLD (-2.33%), DANGCEM (-1.82%), CHIPLC (-1.47%), NGXGROUP (-1.24%), GTCO (-0.98%), ETI (-0.58%) and FLOURMILL (-0.18%) also dipped in price.

    Consequently, the market breadth closed negative, recording 14 gainers and 17 losers.

    → Meanwhile, the market sector performance was mixed. Consumer Goods (0.18%) and Banking (0.26%) as against the previous session, while the Industrial Goods and Insurance sector dipped by 0.94% and 0.69%, respectively, leaving the Oil & Gas sectors unchanged.

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