Stock market dips by 0.10% as investors take profit on recent gains

Nigeria’s stock market on Thursday August 27 stopped its record rally seen since the beginning of this week as investors chose to take profit on large cap stocks following recent gains.

Top in the losers basket are stocks like Dangote Cement Plc, Access Bank Plc, Lafarge Africa Plc, Fidson Healthcare Plc and Zenith Bank Plc.

Cummulatively, equity investors lost N14billion at the close of trading which helped push the market’s year-to-date (ytd) negative return to -5.73 percent.

Dangote Cement decreased most from N135 to N134.2, losing 80kobo or 0.59 percent. Fidson Healthcare dropped from N4 to N3.71, losing 29kobo or 7.25 percent.

Access Bank decreased from N6.4 to N6.25, down by 15kobo or 2.34 percent. Lafarge Africa also dipped from N11.7 to N11.55, down by 15kobo or 1.28percent while Zenith Bank made the top decliners list after its share price moved from N16.95 to N16.85, losing 10kobo or 0.59percent.

At the close of remote trading session, the Nigerian Stock Exchange (NSE) All Share Index (ASI) and Market Capitalisation decreased from 25,330.10 points and N13.214trillion to 25,304.25 points and N13.200trillion respectively.

UACN, UBA, FBN Holdings, Access Bank and Transcorp were actively traded stocks on the Bourse. In 2,954 deals, investors exchanged 251,295,735 units valued at N1.579billion.