Nigeria’s stock market witnessed moderated profit taking activity on Wednesday May 13 as investors began to rethink their reentry strategies, this time in a bagain mood amid ongoing remote trading session.
After two days of profiteering on the Bourse, market watchers had made case for bargains in favour of value counters trading at record lows.
The market’s negative return year to date stood at -11.67 percent. This week, the market is down by -1.40 percent. This month, the market has gained +2.99percent.
More shares of MTNN Plc were offered by investors with the intention to take profit. The share price dropped most from a high of N111.6 to N110, losing N1.6 or 1.43 percent, followed by that of Fidson which dipped from N2.46 to N2.39, losing 0.07kobo or 2.85percent.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) inreased marginally by +0.06 percent at the close of trading session on Wednesday May 13. It moved further high to 23,709.44 points from preceding day high of 23,695.90 points.
On the advancers list, Mobil Oil Nigeria Plc rose most from N160.9 to N176.9, adding N16 or 9.94percent while Total Nigeria Plc moved up from N96.3 to N102.8, adding N6.5 or 6.75percent.
The value of listed equities on the Nigerian Stock Exchange increased by N7.6 billion from N12.349trillion to N12.356trillion.
In 3,573 deals, investors exchanged
159,235,165 units valued at N1.540billion.
Banking stocks were actively traded stocks on Wednesday led by FBN Holdings, Access Bank, UBA and Zenith Bank.
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