Profit-taking halts bullish run, share value dips by N167bn

THE bullish run in the Nigerian Stock Exchange (NSE) was halted Wednesday, as profit-taking activities by investors dragged the value of listed equities by N166.5 billion. Particularly, the value of listed equities, represented by the market capitalisation, dipped by 2.37 per cent to close at N6.871 trillion from N7.038 trillion at which it opened. 
Another key market indicator, the All-share index, was not spared, as it dropped by 2.37 per cent, or 731.55 basis points to close at 30,193.42 points from 30,924.97 points at which it opened. Investors decision to take advantage of gains recorded in the share prices of companies on the NSE, brought about a decline in the share prices of majority of the listed equities. Oando Plc was the worst hit, dropping by N4.00 to close at N91.00 per share, Seven-up Bottling Company Plc followed with a loss of N2.04 to close at N38.91 per share and Flour Mills Nigeria Plc shed N1.89 to close at N35.91 per share. 

Other share price losers include: Benue Cement Company Plc N1.68, Zenith Bank Plc N1.43, First Bank of Nigeria Plc N1.18, Nigerian Breweries Plc N1.15, PZ Cussons Nigeria Plc N1.08, Ashaka Cement Plc N0.87, United Bank for Africa Plc N0.87 among others. However, a few gains were still recorded, with Nestle Nigeria Plc recorded the most share price gain, rising by N3.99 to close at N183.99 per share, Julius Berger Nigeria Plc followed with a gain of N1.98 to close at N41.77 per share and Guinness Nigeria Plc garnered N1.81 to close at N120.00 per share.

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