• Friday, March 29, 2024
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Stocks shed N74bn as profit taking continues

Stocks

Nigeria’s listed stocks lost N74billion on Tuesday November 26 as some investors continued their profit taking activities at the Bourse.

As a result, the Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.56 percent while the year-to-date (ytd) negative return stood at -14.47percent.

MTN Nigeria Plc recorded the highest loss after its share price moved from N120 to N118, down by N2 or 1.67percent, Unilever Nigeria Plc also dipped from N17.45 to N16.3 losing N1.15 or 6.59percent. Dangote Sugar Refinery stock price advanced from N13.8 to N14.6, adding 80kobo or 5.80percent; while Nigerian Breweries Plc moved up from N50.5 to N50.9, after adding 40kobo or 0.79percent. While 17 stocks gained, 17 also lost.

The All Share Index closed at 26,883.33 points against the preceding day close of 27,035.78 points while the stock market capitalisation closed at N12.975 trillion against preceding day close of N13.049 trillion.

The volume of stocks traded decreased by 8.97percent from 230.65million to 209.97million, while the total value of stocks traded decreased by 3.24percent from N3.207 billion to N3.103 billion in 4,081 deals.

The Financial Services sector led the activity chart with 143.50 million shares exchanged for N1.397 billion; followed by Consumer Goods with 26.03million shares traded for N666million.

 

Iheanyi Nwachukwu