Investors Lose N183bn on Profit-taking in Guinness Nigeria, 29 others

Kayode Tokede

The stock market yesterday reversed some of the gains from previous session as the overall capitalization lost N183 billion on investors profit-taking in Guinness Nigeria, PZ Cussons Nigeria Plc and 28 others.

The Nigerian Exchange Limited All-Share Index (NGX ASI) dropped by 334.62 points or 0.33 per cent to close at 101,707.70 basis points. Also, market capitalisation declined by N183 billion to close at N55.653 trillion.

Accordingly, the NGX ASI Month-to-Date and Year-to-Date performance moderated to +0.6per cent and +36 per cent, respectively.

On sectors, the NGX Banking Index dropped by 1.9per cent, NGX Consumer Goods Index depreciated by 0.2per cent and NGX Industrial Goods declined by 0.1per cent, while the NGX Insurance Index added 1.1per cent and NGX Oil & Gas appreciated by 0.1per cent.

As measured by market breadth, market sentiment was negative, as 24 stocks gained relative to 29 losers.

Honeywell Flour Mills emerged the highest price gainer of 9.92 per cent to close at N4.32, per share. Juli followed with a gain of 9.90 per cent to close at N1.11, while Cornerstone Insurance rose by 9.88 per cent to close at N2.67, per share.

Associated Bus Company increased by 9.76 per cent to close at 90 kobo, while Veritas Kapital Assurance added 9.59 per cent to close at 80 kobo, per share.

On the other side, PZ Cussons Nigeria led the losers’ chart with 9.87 per cent to close at N25.10, while Morison Industries followed with a decline of 9.84 per cent to close at N2.75, per share.

eTranzact International and CWG lost 9.70 per cent each to close at N6.05 each, while Sovereign Trust Insurance shed 9.62 per cent to close at 47 kobo, per share.

The total volume traded rose by 8.56 per cent to 263.192 million units, valued at N4.301 billion, and exchanged in 8,614 deals. Transactions in the shares of Veritas Kapital Assurance led the activity with 49.075 million shares worth N39.009 million. UBA followed with account of 24.342 million shares valued at N587.502 million, while Fidelity Bank traded 20.075 million shares valued at N217.331 million.

Transnational Corporations (Transcorp) traded 17.916 million shares worth N235.277 million, while Zenith Bank traded 16.018 million shares worth N578.151 million.