Profit taking continued at the Nigerian Stock Exchange (NSE) on Tuesday with the market indicators dropping further by 1.36 per cent.
The market capitalisation lost N114 billion or 1.36 per cent to close at N8.285 trillion compared to N8.399 trillion achieved on Monday.
Similarly, the All-Share Index which opened at 24,423.37 shed 332.29 points or 1.36 per cent to close at 24,090.98 following price loses by major blue chip companies.
Mr Emeka Madubuike, the President, Association of Stock broking Houses of Nigeria (ASHON), attributed the development to supply pressure and profit taking by investors.
Madubuike said investors were reacting to developments at the foreign exchange market and slide in crude oil price at the global market.
Dangote Cement recorded the highest price loss to lead the losers’ chart, dropping by N6.83 to close at N133 per share.
Mobil trailed with a loss of N1 to close at N149, while ETI lost 60k to close at N15 per share.
UACN shed 47k to close at N20, while Cadbury depreciated by 36k to close at N17.50 per share.
On the other, Lafarge Africa led the gainers’ table, gaining N4.02 to close at N84.52 per share.
7UP came second with a gain of N3 to close at N171.50, while Nigerian Breweries gained N1.05 to close at N100.05 per share.
NASCON increased by 14k to close at N7, while Custodian and Allied Insurance grew by 10k to close at N4.10 per share.
An analysis of the activity chart showed that FBN Holdings was the most active in volume terms, exchanging 66.62 million shares worth N246.95 million traded in 358 deals.
Beco Petroleum followed with a total of 25 million shares valued at N12.50 million exchanged in one deal, while GT Bank traded 15.93 million shares worth N263.54 million in 150 deals.
Diamond Bank exchanged 8.61 million shares valued at N11.95 million transacted in 73 deals and FCMB Group sold 8.32 million shares worth N6.84 million achieved in 84 deals.
In all, investors bought and sold 201.73 million shares valued at N1.26 billion exchanged in 2,559 deals.
This was against 3.45 billion shares worth N5.99 billion traded in 2,432 deals on Monday.
