New Telegraph

NSE extends decline by N193bn on profit taking

Trading in equities on the floor of the Nigerian Stock Exchange, yesterday, witnessed another drop in share prices for the second trading session as bears sustained their grip following profit taking by investors. The local bourse recorded 18 gainers against 22 losers to sustain downward trend.

The All-Share Index dipped 367.97 basis points or 0.92 per cent to close at 39,433.81 index points as against 39.801.78 recorded the previous trading session, while market capitalisation of equities depreciated by N193 billion from N20.830 trillion the previous day to N20.637 trillion as market sentiment remained on the negative territory. Meanwhile, a turnover of 349.55 million shares exchanged in 4,554 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 163.05 million shares exchanged by investors in 1,696 deals.

Volume in the subsector was largely driven by activities in shares of FBNH Plc and Access Bank Plc. Also, the banking subsector, boosted by activities in shares of GTBank Plc and Jaiz Bank Plc, followed with a turnover of 48.61 million shares in 704 deals. Further analysis of the day’s trading showed that in percentage terms, Lasaco Assurance Plc topped the day’s gainers’ table by 9.68 per cent to close at N.71 per share while Linkage Assurance Plc followed with 9.43 per cent to close at 58 kobo per share. Caverton Nigeria Plc added 9.09 per cent to close at N1.92 per share.

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