Market Capitalization Loses N103billion over Profit Taking

The market capitalization of the Nigerian Stock Exchange, NSE, on Tuesday, December 8, lost N103 billion to reverse the gains of the last three days due to profit taking.

Market capitalization, which opened at N9.569 trillion, dropped N103 billion or 1.08 per cent to close at N9.466 trillion, the News Agency of Nigeria (NAN) reports.

Similarly, the All-Share Index lost 300.86 points or 1.08 per cent to close at 27,533.03 against 27,833.89 achieved on Monday.

Market analysts attributed the development to profit taking embarked by investors to take advantage of the gains recorded in the last three trading days.

The volume of shares traded closed higher with 485.04 million shares valued at N4.45 billion transacted in 2,785 deals.



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