Profit Taking Continues, As NSE Markt Cap Drops N26b | Independent Newspapers Limited
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Profit Taking Continues, As NSE Markt Cap Drops N26b

Posted: Apr 30, 2015 at 1:52 am   /   by   /   comments (0)

By Bamidele Ogunwusi, Lagos


The era of profit taking seems to have consolidated its hold on trading activities on the floor of the Nigerian Stock Exchange (NSE) when on Wednesday; the corporate performance indicators went down by 0.23 percent.

At the close of transactions on Tuesday, the All-share index closed lower at 34,050.92 points, down from 34,129.88 points on recorded on Tuesday, while market capitalisation dropped N26.834 billion from N11.599 trillion to N11.572 trillion.

In volume terms, a total of 287.907 million shares worth N3.176 billion changed hands on Wednesday compared to 305.245 million shares worth N2.837 billion recorded on Tuesday.

On the day’s price movement chart, food products-diversified major player, Nestle Nigeria led 22 other companies on the gainers’ table with a gain of N25.00 to close at N940.00 per share, followed by petroleum marketer, Mobil Nigeria, which appreciated by 463 kobo, breweries’ major, Guinness Nigeria, grabbed 372 kobo to close at N164.00 per share, GlaxoSmithKline Consumer nicked 267 kobo to close at N56.12 per share, while UAC of Nigeria increased by 190 kobo to close at N41.90 per share, among others.

On the other hand, 7UP Bottling Company led the decliners’ table when it went down by 800 kobo to close trading at N170.00 per share, followed by Cadbury Nigeria which lost 210 kobo to close at N39.90 per share, PZ Cussons Nigeria dropped 150 kobo to close at N28.50 per share, among others.