Profit taking: NSE market capitalisation drops by N40bn

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The market capitalisation of the Nigerian Stock Exchange (NSE) on Tuesday lost N40 billion due to profit taking by investors.

The market capitalisation, which opened at N11.510 trillion, dropped N40 billion or 0.35 per cent to close at N11.470 trillion.

Similarly, the All-Share Index lost 116.67 points or 0.35 per cent to close at 33,602.67 from the 33,719.45 recorded on Monday.

Seplat led the losers’ chart with a loss of N8 to close at N330 per share.

Nigerian Breweries trailed with N1.97 to close at N148.03, while Okomu Oil dropped N1.61 to close at N31.55 per share.

Dangote Cement shed N1 to close at N177, while Union Homes lost 62k to close at N5.78 per share.

Conversely, Forte Oil Plc led the gainers’ table, improving by N1.89 to close at N179.88 per share.

Conoil followed with a gain of 95k to close at N40.95, Cement Company of Northern Nigeria grew by 49k to close at N11.04 per share.

Ikeja Hotel rose by 25k to close at N4, while GTBank rose by 20k to close at N26.85 per share.

A total of 240.64 million shares worth N6.68 billion were exchanged by investors in 3,957 deals.

This was against the 229.72 million shares valued at N4.85 billion traded in 3,482 deals.

GTBank drove the activity chart with 71.24 million shares worth N1.89 billion traded 366 deals.

UBA followed with 39.50 million shares valued at N205.16 million achieved in 184 deals, while Mobil Oil traded 17.72 million shares worth N3.05 million in 13 deals.

Access Bank accounted for 10.93 million shares valued at N67.58 million exchanged in 194 deals, while investors staked N208.26 million on 10.49 million shares of Zenith Bank in 276 deals.

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