Stock market down by N138bn on profit-taking

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The Nigerian equity market on Monday extended its decline to the second consecutive trading session as investors continue to take profits to increase capital gains.

The key market performance indicator, the Nigerian Stock Exchange All-Share Index declined by 0.75 per cent as bargain hunters continued to take profits from gains recorded last week.The ASI dipped 263.38 basis points or 0.75 per cent to close at 34,774.08 index points as against 35,037.46 recorded in the previous trading session.

Meanwhile, a turnover of 668.53 million shares exchanged in 10,319 deals was recorded in the day’s trading. The volume in the sub-sector was largely driven by activities in the shares of Zenith Bank Plc and FBNH Bank Plc. Further analysis of the day’s trading showed that in percentage terms, BOC Gases Plc topped the day’s gainers’ table with 9.92 per cent to close at N5.32 per share while Neimeth Pharmaceuticals Plc followed with 8.99 per cent to close at N2.91 per share. Unity Bank Plc added 8.86 per cent to close at 86 kobo per share.

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Good news 😝

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