Stock Market Records N114billion Three-Day Loss as Investors Book Profit

The bearish trend that rocked the Nigerian Stock Exchange, NSE, for three consecutive days let to a drop of N114 billion from Monday to Wednesday.

The Market Capitalization of 190 listed companies on the bourse opened the week with N8.939 trillion to end the mid-week at N8.826 trillion.

The All Share Index also depreciated by 330.92 basis points from 25,988.40 points to close yesterday at 25,657.49 points.

The mid-week trading also declined by N29 billion representing 0.34 per cent.

Analysts believed that the recent downtrend in equities was driven by profit taking following dividend play by investors in recent weeks.

At the end of the trading, Unity Capital Plc led the most traded stocks with 4.160 billion units of shares worth N3.203 billion followed by Zenith Bank Plc with 44.521 million shares at N560.549 million, UBA Plc with 21.685 million shares valued at N78.337 million, FCMB Plc with 17.467 million of shares at N14.099 million and Transnational Corporation of Nigeria Plc with 14.769 million shares worth N16.278 million.