Transactions at the Nigerian Stock Exchange (NSE) resumed for the week on Monday on a downward trend with the market indices dropping by 0.77 per cent due to profit taking.
The market capitalisation lost N90 billion or 0.77 per cent to close at N11.568 trillion against the N11.658 trillion posted on Thursday.
Similarly, the All-Share Index depreciated by 265.74 points or 0.77 per cent to close at 34,044.65 compared with 34,310.37 achieved on Thursday following price depreciation.
Total topped the losers’ chart, dropping by N13 to close at N161 per share.
Forte Oil trailed with a loss of N8 to close at N168, while Nigerian Breweries dropped by N3.10 to close at N147 per share.
Flour Mills lost N1.69 to close at N34.51 and Presco dipped N1.20 to close at N34 per share.
Market analysts attributed the profit taking to “wait and see’’ attitude develop by investors to ascertain the economic policies of the new government.
On the other hand, Seplat led the gainers’ table, growing by N7 to close at N345 per share.
Guinness came second with a gain of N1 to close at N164, while PZ Industries increased by 82k to close at N30 per share.
UAC of Nigeria appreciated by 30k to close at N41.50, while Mobil gained 20k to close at N147 per share.
Zenith Bank was the toast of investors, accounting for 60.86 million shares valued N1.28 billion in 427 deals.
It was followed by Diamond Bank with a turnover of 48.28 million shares worth N213.99 million traded in 46 deals, while UBA sold 36.40 million shares valued N194.41 million transacted in 209 deals.
Access Bank exchanged 36.02 million shares worth N222.89 million achieved in 209 deals, while GT Bank sold 21.96 million shares valued N635.99 million traded in 331 deals.
In all, investors bought and sold 340.71 million shares worth N5.50 billion transacted in 4,184 deals.
This was in contrast with 711.26 million shares valued N11.93 billion traded in 4,675 deals on Thursday.
