NSE Index Sheds 1.19% as Profit Taking Sweeps Through Stock Market

Transactions on the Nigerian Stock Exchange, NSE, continued its journey south on Tuesday, January 12, with the market capitalization shedding N8 trillion mark due to massive profit taking by investors.
The All-Share Index lost 315.25 points or 1.19 per cent to close lower at 26,034.93 compared with 26,350.18 achieved on Monday following price loses.

Market capitalization shed N109 billion to close at N8.953 trillion against N9.062 trillion recorded on Monday, January 11.

An analysis of the price movement table indicated that Nigerian Breweries led the losers’ pack with a loss of N4.22 to close at N102.02 per share.

PZ Industries trailed with a loss of N1.08 to close at N21.13, while Ashaka Cement dropped 96k to close at N24.24 per share.

Cadbury declined by 81k to close at N15.49, while GTBank dipped by 65k to close at N17.25 per share.

Conversely, Portland Paints and Products led the gainers’ table, increasing by 19k to close at N4.13 per share.

Champion Breweries gained 16k to close at N3.38, while Eterna Oil increased by 8k to close at N1.05 per share.

May & Baker grew by 5k to close at N1.05, while Trans Express went up by 4k to close at N1.15 per share.

The volume of shares traded increased by 74.96 per cent as a total of 223.39 million shares worth N2.51 billion were traded in 2,776 deals on Tuesday.

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