Profit taking: NSE market capitalisation nosedives by N67bn

Transactions on the nation’s bourse ended on a downward trend on Tuesday with major blue chips posting price losses.
The Nigerian Stock Exchange (NSE) market capitalisation due to profit taking dropped by N67 billion or 0.52 per cent to close at N12.738 trillion against N12.805 trillion on Monday.
Also, the All-Share Index lost 192.53 points or 0.52 per cent to close at 36,600.07 compared to 36,792.60 on Monday.
An analysis of the price movement table indicated that Nigerian Breweries recorded the highest price loss to lead the losers’ chart, dropping by N4.50 to close at N134 per share.
Forte Oil trailed with a loss of N3.89 to close at N40, while Flour Mills shed N1.74 to close at N33.15 per share.
Zenith International Bank was down by 74k to close at N24.24, while Guaranty Trust Bank shed 59k to close at N42.01 per share.
Conversely, Nestle led the gainers’ chart with a gain of N5.26 to close N1261.16 per share.
Okomu Oil garnered N2.19 to close at N68.20, while International Breweries appreciated by 85k to close at N51.70 per share.
Unilever grew by 80k to close at N37.80, while Guinness increased by 75k to close at N101 per share.
However, the volume of shares traded improved by 23.58 per cent with an exchange of 257.93 million shares worth N3.29 billion transacted in 3,423 deals.
This was in contrast with a turnover of 208.71 million shares valued at N2.45 billion achieved in 2,993 deals on Monday.
Tantalizer was the toast of investors, accounting for 43.81 million shares worth N21.91 million.
Fidelity Bank followed with an account of 35.38 million shares valued at N56.62 million, while FCMB Group sold 29.74 million shares worth N33.56 million.
Zenith Bank traded 27.35 million shares valued at N680.67 million and FBN Holdings sold 15.04 million shares worth N104.95 million.