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Profit-taking takes toll on exchange, index falls by 0.3%


Nigerian Stock Exchange

Price losses outweighed gains on the equity sector of the Nigerian Stock Exchange (NSE) yesterday, as profit-taking takes toll on the transactions, causing the All-Share Index (ASI) to plunge by 0.3 per cent.
Yesterday, the ASI plummeted by 150.14 points or 0.3 per cent from 44,493.79 recorded on Tuesday to 44,343.65.
Also, market capitalisation of listed equities dropped by N54 billion from N15,949 trillion to N15,895 trillion.
Investors exchanged 651 million shares worth N7.7 billion in 7,091 deals, lower than  876 million units valued at N15.9 billion that changed hands  in 8,780 deals on Tuesday.
On the price movement chart, 30 stocks depreciated in price yesterday, as International Breweries led others on the losers’ chart with 3.15 kobo to close at N60.85 per share. Nigerian Breweries followed with N3 to close at N147.00 per share.

PZ Cussons lost 1.15 kobo to close at 22.40 per share; Union Bank depreciated by 30 kobo to close at N7.90 per share; Airservice shed 0.25 kobo to close at N5.10 per share; while UAC-Properties and First City Monument Bank dropped 0.16 kobo each to close at N3.04 and N3.06 per share respectively.

United Bank for Africa and FBN Holdings also depreciated by 0.15 kobo apiece to close at N12.70 and N13.95 per share respectively, while Fidelity Bank shed 0.14 kobo to close at N3.66 per share. TransNational Corporation lost 13 kobo to close at N2.33 per share.
Other losers are UPL, 0.11 kobo to close at N2.27 per share; Sterling Bank, 10 kobo to close at N2.10 per share; Law Union and Rock, eight kobo to close at N0.88 per share; and African Prudential, seven kobo to close at N4.90 per share.

On the other hand, 23 stocks made gains as Flourmills topped the gainers’ chart with N3.10 to close at N33.95 per share.

WAPCO followed with N2.40 kobo to close at N54.95 per share; FO trailed with 95 kobo to close at N50.95 per share; Berger Paints added 45 kobo to close at N9.95 per share; while Unilever added 30 kobo to close at N44.50 per share.

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