Profit-taking Triggers N121bn Loss On Exchange

The Nigerian stock market closed lower yesterday at the midweek session as investors’ profit-taking triggered a loss of N121 billion.

The All-Share Index declined by 191.09 per cent, representing a loss of 0.13 per cent, to close at 145,864.80 points. Similarly, the overall market capitalisation value shed N121 billion to close at N92.284 trillion.

The market’s negative performance was driven by price depreciation in large and medium-capitalised stocks, including Lafarge Africa, Nigerian Breweries, Northern Nigeria Flour Mills (NNFM), Berger Paints, and Zenith Bank.

Despite the overall dip, market breadth turned positive, with 53 gainers against 21 losers, reflecting sustained buying interest from bargain hunters even amid profit-taking pressure.

FTN Cocoa Processors, Learn Africa, Prestige Assurance, R.T. Briscoe, Tripple Gee & Company, and Caverton Offshore Support Group recorded the highest price gains of 10 per cent each to close at N6.93, N7.70, N2.42, N3.74, N5.17, and N7.92, respectively, per share.

RELATED

11PLC To Boost Productivity With New Manpower Sourcing Strategy

1 minute ago

NISO Intervenes In Enugu Tariff Dispute As 50% Power Cut Persists

2 minutes ago

AXA Mansard Insurance followed with a gain of 9.99 per cent to close at N19.48, while Ellah Lakes and Consolidated Hallmark Holdings were up by 9.96 per cent each to close at N17.66 and N5.63, respectively, per share.

On the other hand, Thomas Wyatt Nigeria led the losers’ chart by 10 per cent to close at N3.42 per share. UPDC followed with a decline of 7.94 per cent to close at N8.00, while Legend Internet lost 6.35 per cent to close at N5.60 per share.

Berger Paints fell 6.16 per cent to close at N32.00, while Champion Breweries declined 5.75 per cent to close at N16.38 per share.

The total volume traded advanced by 5.06 per cent to 1.342 billion units, valued at N20.215 billion, and exchanged in 30,749 deals. Transactions in the shares of Universal Insurance topped the activity chart with 193.435 million shares valued at N282.415 million. Japaul Gold and Ventures followed with 123.163 million shares worth N389.976 million, while Veritas Kapital Assurance traded 93.216 million shares valued at N260.054 million.

Access Holdings traded 84.985 million shares valued at N2.347 billion, while Sterling Financial Holdings Company transacted 68.202 million shares worth N552.619 million.