News Column

Profit Taking Continues, As NSE Index Drops

August 14, 2014

Bamidele Ogunwusi

Profit takers continue their hold on trading activities on the floor of The Nigerian Stock Exchange on Thursday when both indicators declined by 0.006 per cent as equities capitalisation closed lower at N13.785 trillion after it depreciated by N926 million as against N13.786 trillion recorded on Wednesday, while the All Share Index shed 2.77 basis points to close at 41, 750.38 points as against 41,753.15 points recorded on Wednesday.

However, investors bought and sold a total of 207.931 million shares valued at N2.244 billion in 4,785 transactions as against 245.694 million shares valued at N2.792 billion in 4,633 transactions recorded on Wednesday with stockbrokers crossing a total of 153.916 million shares valued at N952.911 million in 2,239 transactions in the financial services sector, while 208.207 million shares valued at N1.833 billion in 2,504 transactions were recorded in the previous trading day.

18 companies made it to the gainers' table at the close of trading on Thursday as against 17 on Wednesday, while 30 were on the laggards' table as against 31 in the previous trading day.

Petroleum marketer, Conoil led 29 others on the laggards' table when it went down by 526 kobo to close at N67.24 per share, followed by Nigerian Breweries which lost 429 kobo to close at N170.70 per share. Its peer,Guinness Nigeria depreciated by 294 kobo to close at N190.06 per share; the share price of GlaxoSmithKline Consumer depreciated by 151 kobo to close at N63.50 per share, while Forte Oil suffered a setback of 107 kobo to close at N226.00 per share.

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Source: AllAfrica

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