Investors at the Nigerian Stock Exchange (NSE) yesterday resumed profit taking, halting a 2-day gaining streak that was buoyed by the resurgent of bargain hunters.
Consequently, the overall performance measures, NSE ASI and market capitalisation, fell by 0.61 per cent.
This was due to profit taking by market speculators in the wake of cautious optimism that had pervaded the market following the upset in the financial sector.
Accordingly, the All-Share Index shed 172.45 basis points or 0.61 per cent to close at 27,854.78 index points as against 28,027.23 recorded the previous day, while market capitalisation of equities depreciated by N59 billion or 0.61 per cent to close lower at N9.567 trillion from N9.626 trillion.
Meanwhile, a turnover of 380.754 million shares in 2,954 deals was recorded in the day’s trading. The banking sub-sector of the financial services sector was the most active (measured by turnover volume) with 301.5 million shares exchanged by investors in 990 deals.
Volume in the sub-sector was largely driven by activities in the shares of Access Bank Plc and Diamond Bank Plc. Also, premium sub-sector, boosted by the activities in the shares of Zenith Bank and FBNH Plc followed with a turnover of 22.6 million shares in 449 deals.
The number of gainers at the close of trading session was 11, while decliners closed at 27. Further analysis of the day’s trading showed that Diamond Bank Plc topped the gainers’ table with 4.39 per cent to close at N1.19 per share, while Nacho Nigeria Plc followed with 4.10 per cent to close at N3.50 per share. Dangote Sugar Nigeria Plc added 2.85 per cent to close at N6.50 per share.
On the flip side, e-Transact Plc led the losers’ chart with a drop of 4.99 per cent to close at N5.14 per share. BOC Gases Plc trailed with a loss of 4.86 per cent to close at N3.52 per share, while Forte Oil Plc dropped by 4.82 per cent to close at N152.00 per share.