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Home Sectors BUSINESS & ECONOMY NSE Index Drops 0.56% As Profit-taking Resumes
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NSE Index Drops 0.56% As Profit-taking Resumes

July 29, 2016
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    capitalised stocks
    Transactions on the floor of the Nigerian Stock Exchange, NSE, on Thursday, July 28, halted a two consecutive day gaining streak as market indices slumped.

    The All Share index dropped 0.56 percent to close at 28,046.96 basis points, compared to the increase of 0.93 percent recorded previously. With the day’s performance, Year to Date (YTD) returns slides -2.08 percent.

    The day’s 27 losers were topped by Skye Bank Plc which dropped by 7.89 percent or 6 kobo to close at 70 kobo per share. Berger Paints followed with a decline of 4.98 percent or 40 kobo to close at N7.63 per share while Cutix Plc shed 4.97 percent or 8 kobo to close at N1.53 per share.

    On the other hand, MRS Oil Plc led the day’s gainers on account of an impressive half year performance as it recorded a profit after tax of N909.7 million a 2,319 percent increase from N37.6 million recorded as profit in the same period of the previous year. MRS stocks appreciated by 10.20 percent or N3.58 to close at N38.78 per share.

    Pharmadeko Plc followed with a gain of 4.85 percent or 8 kobo to close at N1.73per share while Law Union added 2 percent or one kobo to close at 51 kobo per share.

    Top traded stocks for the day by volume include FBN Holdings with of 86.2 million stocks, GTB followed with an exchange of 38.6 million shares while Skye Bank traded a total of 22.8 million shares.

    At the end of  trading, investors had exchanged a total of 270.7 million shares valued at N2.3 billion in 4,609 deals compared to 488.9 million valued at N4.8 billion exchanged in 4,713 deals on Wednesday.

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