The intense rally that rocked the Nigerian Stock Exchange, NSE, for two weeks straight was halted on Friday, July 28,
The crash in momentum was driven by profit taking embarked upon by investors as soon as some blue-chip firms began to release their half year earnings on Friday.
As such the All Share Index of the Bourse crashed by 1.02 percent, 380.46 points to settle at 36,864.71 points, leaving the 37,000 mark a day after it crossed it, bringing an end to the 16 consecutive bullish trading session.
Likewise, the market capitalisation reduced by N131 billion to close at N12.7 trillion, while the market breadth however ended positive with 30 advancers against 28 decliners.
Price movement Chart showed Dangote Cement leading the laggard’s pack with a decline of N9.48k in its share value to settle at N235.51k per share.
Nigerian Breweries followed with a drop of N2.15k to close at N171.62k per share; and Forte Oil, which depreciated by N1.20k to end at N61.70k per share. Guinness dipped by 95k to close at N65.5k per share, while Cadbury blew away 75k to finish at N10.45k per share.
On the flip side, Nestle highest earner just like yesterday appreciating by N47.77k to its share price to close at N1003.27k per share. Presco gained N2,20k to finish at N73.20k per share, while Dangote Sugar appreciated by 98k to end at N10.86k per share.
Lafarge jumped by 75k to close at N60.75k per share, while International Breweries expanded by 50k to end at N32 per share.
But the year-to-date return weakened to 37.17 percent at the close of transactions of the floor of the NSE today.
FBN Holdings was the most active stock on Friday, accounting for 96.9 million units sold for N548.7 million.
It was trailed by Diamond Bank, which transacted 88 million shares at N117 million, and Transcorp, which traded 57.9 million shares valued at N83.7 million.
Zenith Bank exchanged 46.2 million shares worth N1.2 billion, while GTBank transacted 46 million shares at N1.9 billion.
At the end of trading, investors exchanged a total of 525.6 million shares valued at N8.1 billion executed in 5,799 deals.
