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NSE market indices drop by 0.46% amid profit taking

25 April 2014, 12:11

Lagos- Activities on the Nigerian Stock Exchange (NSE) on Thursday ended on a bearish trend with the indices dropping by 0.46 percent due to profit taking embarked by investors.

The All-Share Index dropped further by 182.19 basis points or 0.46 percent to close lower at 39 011.90 against 39 194.09 achieved on Wednesday.

The market capitalisation also lost N60 billion to close lower at N12.829 trillion compared to N12.889 trillion posted on Wednesday.

An analysis of the laggards' chart indicated that Seplat topped the table with a loss of N29.99 to close at N597.01 per share.

It was followed by Total with N6.70 to close at N161.20, while Dangote Cement depreciated by N2 to close at N228 per share.

Nigerian Breweries dropped N1.99 to close at N148, while Mobil Oil lost 99k to close at N122.10 per share.

Analysts attributed the downward trend to capital appreciation embarked by some investors on blue chip stocks.

On the other hand, Presco led the gainers' table, enhancing by N1 to close at N43 per share.

Unilever followed with a gain of 65k to close at N47.15, while FBN Holdings gained 62k to close at N13.21 per share.

ETI and Zenith Bank garnered 30k each to close at N13.60 and N23.50 per share, respectively.

In spite of the drop in market indicators, the volume of shares closed higher with an exchange of 1.05 billion shares worth N15 billion transacted in 4 543 deals.

UBA was the most active stock for the day with 580.05 million shares worth N3.97 billion.

It was followed by FBN Holdings with 160.73 million shares worth N2.03 billion, while Zenith Bank traded 130.73 million shares valued at N3.04 billion.

Wema Bank traded 22.24 million shares worth N22.24 million, while investors' staked N187.09 million on 21.14 million shares of Access Bank.

-    NAN

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