Profit taking: Nigeria stock market down N155bn

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Profit taking was persistent on the Nigerian Stock Exchange (NSE) on Friday with investors net worth dropping further by N155 billion.

Specifically, the market capitalisation dipped N155 billion or 1.17 per cent to close at N13.049 trillion compared with N13.204 trillion achieved on Thursday.

An analysis of the price movement table shows that Dangote Cement topped the losers’ chart, dropping by N2.90 to close at N139 per share. Cadbury was down by 80k to close at N7.65, while Guinness dipped by 70k to close at N18.30 per share.Skyway Aviation Handling followed with 24k to close at N2.73, while NASCON gained 20k to close at N11.50 per share.

The volume of shares traded dipped by 20.62 per cent as investors bought and sold 214.49 million shares valued at N2.51 billion in 4,342 deals.This was in contrast with 270.19 million shares worth N5.29 billion transacted in 4,550 deals on Thursday.

 

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