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NSE indices drop by 2.07% due to profit taking

By on April 10, 2013

The market indicators of the Nigerian Stock Exchange (NSE) on Tuesday bowed to profit taking as the market indicators fell by 2.07 per cent due to huge price losses by some highly capitalised stocks.

The News Agency of Nigeria (NAN) reports that the market capitalisation, as a result of the losses, lost N231 billion to close at N10.91 trillion against the N11.14 trillion posted on Monday.

Similarly, the All-Share Index depreciated by 721.24 points or 2.07 per cent to close at 34,089.01 against the 34,810.25 recorded on Monday.

Dangote Cement led the losers’ pack with N9 to close at N156 per share.

Julius Berger dipped by N1.80 to close at N51, while Presco depreciated by N1.38 to close at N24 per share.

FBN Holding lost N1.35 to close at N19.80, while Cement Company of Northern Nigeria dipped by N1 to close at N10 per share.

On the other hand, Nigerian Breweries topped the gainers’ table, appreciating by N6.02 to close at N171.01 per share.

Nestle grew by N3 to close at N973, while Unilever gained N1.92 to close at N54.02 per share.

B0C Gases rose by 79k to close at N8.73, while Ashaka Cement increased by 50k to close at N25 per share.

In all, investors staked N4.59 billion on 408.19 million shares in 6,915 deals against the 492.81 million shares worth N5.19 billion traded in 6,383 deals on Monday, a decrease of 17.17 per cent.

Diamond Bank emerged the most traded stock, trading 55.07 million shares worth N359.45 million in 478 deal and was trailed by Access Bank with 41.87 million shares valued at N399.25 million exchanged in 398 deals.

(  Leadership )