Profit taking sheds 0.57% from NSE ASI

Profit taking activity of investors in the equities market, on Wednesday pitched supply against demand as key market measuring indices closed low.

Lead market indices of the Nigerian equities market on Wednesday slid marginally to post a decline of 0.57 percent, as investors traded 218.7 million shares worth N3.895 trillion in 3,191 deals.

The NSE All Share-Index closed lower at 24,986.02 points as against a 2.23 percent growth recorded in previous session when the ASI closed at 25,129.27 points. Year-to-date losses thus increased to -7.03%. The market capitalization also dropped N49.6 billion to close at N8.647 trillion, compared to N8.696 trillion recorded on Tuesday.

Performance on the sectoral indices ended the session mixed, with the Industrial sector emerging worst performer with a 3.5 percent decline, Oil and Gas dropped 2.52 percent, while Banking Index dropped 0.12 percent. Consumer Goods was the sole gainer with a 3.01 percent growth.

Meanwhile, trading on the floor of the NSE recorded a total of 10 equities that advanced against 16 equities that declined. Unilever led the day’s gainers by 5 percent to close at N29.40 per share, Nigerian Breweries appreciated 4.99 percent to close at N139.80 per share, Dangote Sugar added 4.71 percent to close at N6 per share, Champion Breweries grew 4.26 percent to close at N2.45 per share and Guinness increased 3.94 percent to close at N66.94 per share.

On the losers table, Eterna led by 9.45 percent to close at N2.97 per share, Ashaka Cement was next with a decline of 7.91 percent to close at N10.36 per share, United Capital dropped 7.89 percent to close at N2.45 per share, while Seplat Petroleum and Wapco lost 5 percent each to close at N380 per share and N37.05 per share.

At the top of the day’s trading activities were Stanbic with N29 million shares worth N515.1 million, Access Bank was next with 28.9 million shares valued at N185.8 million while Zenith Bank emerged the third most traded stock with 24 million units of shares worth N350.9 million.

Fidelity Bank and FBN Holdings also made it to the top five traded stocks for the day, having transacted 18.7 million and 13.2 million units of shares sold each, worth N15.3 million and N39.5 million respectively.