Profit-Takers Crash Stock Exchange by N152bn to N66.717trn

Data showed that the energy sector was the most affected as it closed lower by 0.09 per cent, with the other sectors ending in the green territory.

The insurance index appreciated by 1.27 per cent, the consumer goods counter improved by 0.42 per cent, and the banking space  grew by 0.12 per cent, while the industrial goods and commodity sectors closed flat.

At the close of transactions, the All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited shrank by 242.12 points to 106,538.60 points from 106,780.72 points and the market capitalisation was trimmed by N152 billion to N66.717 trillion from the previous day’s N66.869 trillion.

Despite the loss, the market breadth index was positive, with 34 price gainers and 18 price losers, representing strong investor sentiment.

Eterna and Guinea Insurance lost 10.00 per cent each to trade at N37.80 and 63 Kobo apiece, FCMB declined by 7.61 per cent to N9.10, Caverton shed 5.80 per cent to finish at N2.60, and ABC Transport eased by 5.06 per cent to N1.50.

Conversely, Livestock Feeds gained 9.87 per cent to settle at N8.35, Honeywell Flour grew by 9.80 per cent to N13.45, Eunisell jumped by 9.69 per cent to N10.75, May and Baker appreciated by 9.66 per cent to N7.95, and Tantalizers soared by 9.28 per cent to N2.59.

Yesterday, the number of deals carried out by the market participants increased by 4.05 per cent to 11,911 deals from 11,447 deals, the volume of transactions went down by 7.05 per cent to 349,2 million shares from 375.7 million shares, and the value of trades retreated by 4.90 per cent to N9.7 billion from N10.2 billion.

Zenith Bank was the busiest equity at the bourse during the session after it transacted 42.2 million units for N2.0 billion, Fidelity Bank traded 35.9 million units worth N624.7 million, Access Holdings exchanged 31.5 million units valued at N746.9 million, UBA sold 24.0 million units worth N897.8 million, and Tantalizers traded 23.1 million units worth N59.2 million.