NSE Index Sheds 0.42% As Profit Taking Persists

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Tuesday, March 15, remained in the red zone, as more investors took profits.

The All Share Index slid 0.42 per cent to close at 25,745.13 points, compared to the decline of 0.52 per cent recorded the preceding day to close at 25,853.58 points.

Market capitalization dropped N38 billion to close at N8.855 trillion, compared to the depreciation of N48 billion recorded the preceding day to close at N8.893 trillion.

Stock analysts attributed the decline to consolidation from the recent rallies, the underperformance of the heavyweight banking and consumer goods sectors, including anxiety regarding 2015 results following series of profit warnings coming from the banking sector.

Conoil Plc led the gainers’ table with N1.86 or 10.20 per cent to close at N20.10 per share, followed by United Bank for Africa Plc with 33 kobo or 9.68 per cent to close at N3.74 per share.

United Capital Plc rose 13 kobo or 8.02 per cent to close at N1.75 per share, while Okomu Oil Plc was up N1.57 or 4.98 per cent to close at N33.07 per share.

Learn Africa Plc added four kobo or 4.88 per cent to close at 86 kobo per share. On the flip side, Ecobank Plc declined N1.75 or 9.72 per cent to close at N16.26 per share, while Oando Plc fell 51 kobo or 9.57 per cent to close at N4.82 per share.

Diamond Bank Plc dropped 13 kobo or 8.78 per cent to close at N1.35 per share, while Ikeja Hotel Plc dipped 13 kobo or five per cent to close at N2.47 per share. Unity Bank Plc depreciated three kobo or 4.48 per cent to close at 64 kobo per share. A total of 287 million shares valued at N2.67 billion were exchanged in 4,561 deals.