In line with some analysts earlier views, Nigeria’s stock market dipped by about N50billion on Thursday June 4 as investors took profit on value counters like MTNN Plc, GTBank Plc and Access Bank Plc.
Before now, a three-day rally had put about N86billion in investors pockets. MTNN Plc led other stocks in the losers league after its share price moved from N118 to N116, losing N2 or 1.69 percent, followed by that of GTBank Plc which decreased from N25 to N24.5, shedding 50kobo or 2percent.
Gains in stocks like Dangote Cement Plc and Dangote Sugar Refinery Plc could not reroute the market to stay positive.
Dangote Cement Plc increased from N140.5 to N141.9, adding N1.4 or 1percent while Dangote Sugar Refinery Plc rose from N14.05 to N15, up by 95kobo or 6.76percent. Year-to-date negative return increased to -5.70 percent.
At the close of trading session on Thursday, the Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.38percent to 25,312.05 points while the value of listed stocks decreased to N13.204trillion from preceding day high of 25,407.96 points and N13.254trillion respectively.
In 4,550 deals, equity dealers exchanged 270,193,043 units valued at N5.29billion. FBN Holdings Plc, Zenith Bank Plc, FCMB Group Plc, GTBank Plc and Dangote Cement Plc were actively traded stocks on the Nigerian Bourse.
