Profit taking: NSE index down by 0.62%

Trading activities on the Nigerian Stock Exchange (NSE) closed for the week on Friday on a negative trend with the All-Share  Index nosediving by 158.69 points or 0.62 per cent due to profit taking.
The index lost 0.62 per cent to close at 25,250.37 against 25,409.06 achieved on Thursday as a result of price losses.
Also, the market capitalisation lost N55 billion or 0.63 per cent to close at N8.738 trillion in contrast with N8.793 trillion posted on Thursday.
Major blue chips posted price losses, with Nestlé leading the losers’ pack with a loss of N6 to close at N570 per share.
Nigerian Breweries dipped N3.99 to close at N130 and Forte Oil lost N2.64 to close at N50.35 per share.
Unilever dropped 66k to close at N28.50, while Glaxosmithkline declined by 65k to close at N14.10 per share.
On the other hand, Betaglass topped the gainers’ table with a gain of N1.82 to close at N38.27 per share.
Stanbic IBTC rose by 81k to close at N17.36, while UACN grew by 58k to close at N12.60 per share.
UAC Property rose by 17k to close at N3.37 and Mansard appreciated by 7k to close at N1.57 per share.
AIICO Insurance was the toast of investors in volume terms with an exchange of 97.54 million shares valued at N53. 65 million.
Zenith Bank came second on the activity chart, accounting for 28.41 million shares worth N 419. 27 million, while ETI sold 18.68 million shares valued at N184.92 million.
UBA transacted 16.53 million shares worth N80.71 million and UAC Property accounted for 13.12 million shares valued at N48 million.
In all, investors bought and sold 259.31 million shares valued at N2.42 billion exchanged in 2,402 deals, against 246.79 million shares worth N1.75 billion achieved in 2,503 deals on Thursday.