Profit taking: NSE All-Share Index drops to 25,000 mark

The All Share Index of the Nigerian Stock Exchange (NSE) on Monday dropped to 25,000 mark due to persistent sell pressure and exit of foreign investors. The News Agency of Nigeria reports that the index shed 184.07 points or 0.70 percent to close at 25,986.81 compared with 26,170.88 achieved on Friday. Similarly, the market capitalisation shed N64 billion, declining to N8.945 trillion against N9.009 trillion posted on Friday, as a result of profit taking.

Major blue chips recorded price depreciation and this was led by Forte Oil with a loss of N10.18 to close at N94.32 per share. CAP came second on the losers’ chart with a loss of N1.65 to close at N33.75, and Guinness shed N1 to close at N89 per share. PZ Industries was down by 72k to close at N15.77, while Zenith Bank depreciated by 63k to close at N14.50 per share. On the other hand, UACN recorded the highest gain to lead the gainers’ table, gaining 9k to