Stock Market Sheds N5billion on Intense Profit-taking

Equities trading at the Nigerian Stock Market, on Thursday, August 18, halted a three consecutive day healthy bull run, as lead indices took a heavy plunge.

The Market Capitalisation slid by N5 billion to close at N9.418 trillion in contrast to previous day’s appreciation of N16.6 billion to close at N9.423 trillion.

Market breadth was negative, with 16 gainers versus 18 losers.  Total volume traded went down by 5.31 per cent to 313.276 million shares, valued at N3.60 billion, and traded in 2,883 deals.

Transactions in the shares of UBA topped the activity chart with 120.73 million shares valued at N507.7 million. Diamond Bank followed with 36.84 million shares worth N39.96 million, while Guaranty Trust Bank traded 36.76 million shares valued at N917.31 million.

Access Bank traded 15.26 million shares valued at N81.71 million, while FBN Holdings transacted 14.59 million worth N45.87 million

The top three traded stocks were: UBA Plc with the sale of120.7 million shares worth N507.7 million, Diamond Bank Plc that exchanged 36.8 million stocks worth N40 million and Guaranty that traded 36.8 million stocks valued at N917.3 million.