4 January 2013

Nigeria: Equity Market Plunges N19 Billion on Profit Taking

Lagos — The domination of speculative traders on the floor of the Nigerian Stock Exchange (NSE) yesterday halted the last three days gains as investors jostled for profits.

During the day, market capitalization of the listed equities depreciated by N19 billion or 0.21 per cent to close at N9.090 trillion.

Also, the NSE All-Share Index dropped by 59.82 basis points or 0.21 per cent, to close at 28,441.39.

NewGold led other stocks on the gainers' chart with a gain of N21.00 kobo to close at N2,555 per unit. Nigerian Breweries Plc followed with N2.21 kobo gain to close at N150.21 kobo, while Okomu Plc grew by N2.12 kobo to close at N44.62 kobo per share.

Guinness Nigeria Plc rose by N1.75 kobo to close at N276.75 kobo per share and Guaranty Trust Bank Plc gained N0.45 kobo per share to close at N25.05 kobo.

On the other hand, Dangote Cement Plc led the losers' table with a N3.10 kobo to close at N125.00 kobo per share. WAPCO Plc followed with N2.50 kobo to close at N55.00 kobo per share while FBN Holding Plc lost N0.72 kobo to close at N16.38 kobo per share, PZ Plc with N0.44 kobo loss to close at N27.56 kobo per share and Diamond Bank Plc with N0.30 kobo loss to close at N5.10 kobo per share.

Trading recorded a volume of 289.483 million shares worth N2.569 billion transacts in 4,510 deals compared to 175.985 million shares value at N1.882 billion traded at 2,802 deals on Wednesday.

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