Equities Market value drops 1.64 % on profit taking

Equities trading closed in red for the second day in a row, as profit taking activities, embarked on by investors continued.

The All-Share Index consequently closed at 32,928.44 basis points compared to 33,477.89 points on Wednesday.Most sector index also closed lower in the course of the days trading activities.

For instance, B=banking index dropped 2.35 per cent, consumer goods index was down by 2.63 per cent at the end of the day, while oil and gas fell by 0.42 per cent.

The Market Capitalisation also lost N189 billion to close at N11.387 billion compared to N11.576 trillion it settled at following s loss of N311 billion on Wednesday

Top at the list of the day’s 45 declining losers chart, was May & Baker that depreciated 9.62 per cent. Transcorp followed with a decline of 9.52 per cent to close at N1.52 per share, while Wema Bank closed 8.96 per cent lower at 61 kobo per share.

ETI also closed the day with a loss of 8.47 per cent to close at N13.20, while Diamond Bank declined by 8.20 per cent each to close at N1.12 per share.

On the other hand, Neimeth led the day’s gainers with an increase of 10.24 per cent to close at N44.56 per share. Ashaka Cement was next with an increase of 10.16 per cent to close at N16.27, Berger Paints followed with a gain of 10.05 per cent to close at N7.12, Neimeth gained 9.52 percent to close at 92 kobo per share and Livestock Feeds appreciated 9.09 percent to close at N1.08 per share.

Volume of shares traded in 5,321 deals rose slightly to 509.8 million, as against 508.7 million on Wednesday.
Value traded however fell to N5.03 billion from N6.4 billion traded on Wednesday.