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Profit-taking drags down share value by N18bn

 By Providence Obuh
Transactions on   the Nigerian Stock Exchange (NSE) started the week on a bearish note, as profit-taking activities forced down the value of listed equities, Monday, by N18.04 billion. 

In particular, equities value, represented by the market capitalisation dropped by 0.29 per cent to close at N6.123 trillion from N6.141 trillion at which it opened. Another key performance indicator, the All-share index, shed 74.11 basis points to close at 25,149.59 points from 25,223.70 points.
 
The decline in equities’ value was as a result of loses on the prices of highly capitalised stocks, occasioned by sell-off by investors wanting to take advantage of the few gains recorded last week. Dangote Sugar Refinery Plc recorded the most share price loss, dropping by N0.86 to close at N19.99 per share Cadbury Nigeria Plc followed with a loss of N0.78 to close at N26.76 per share and Oando Oil Plc dipped by N0.49 to close at N74.50 per share. 

Other share price losers include: Honeywell Flour Mill Plc N0.34, Berger Paints Plc N0.31, UAC Nigeria Plc N0.25, Zenith Bank Plc N0.25, Presco Plc N0.22, RT Briscoe Plc N0.21 A.G Leventis Nigeria Plc N0.19, among others. 

On the other hand, University Press Plc recorded the most share price gain, rising by N0.35 to close at N7.40 per share, National Salt Company Nigeria Plc followed with a gain of N0.32 to close at N7.60 per share and May and Baker Nigeria Plc garnered N0.31 to close at N6.61 per share.

Other share price gainers include First Bank of Nigeria Plc N0.20, Custodian and Allied Insurance Plc N0.16, Dangote Flour Mills Plc N0.15, United Bank for Africa Plc N0.12, Guaranty Trust Assurance Plc N0.10, Afribank Nigeria Plc N0.09, Oceanic Bank International N0.08, among others. 
 
Equities’ trading plunge by 8.66 per cent as a turnover of 218.86 million shares valued at N1.86 billion was recorded in 5,277 deals in contrast to Friday’s turnover of 239.61 million shares valued at N1.82 billion in 5,772 deals. 

The Banking sub-sector led the other sub-sectors on the sectorial analysis, accounting for 52.29 per cent of the market turnover with 114.45 million shares valued at N888.43 million in 2,900 deals.

Sterling Bank Plc was the most active in the sub-sector, trading 30.14 million shares valued at N61.53 million in 93 deals, GTBank Plc followed with the exchange of 20.30 million shares valued at N338.93 million in 468 deals and First Bank of Nigeria Plc recorded 15.57 million shares valued at N201.26 million in 771 deals. 

The Conglomerates sub-sector followed on the sectorial analysis, accounting for 17.14 per cent of the market turnover with 37.50 million shares valued at N95.41 million in 266 deals.

Transnational Corporation of Nigeria Plc recorded the most patronage in the sub-sector trading 34.20 million shares valued at N17.10 million in 133 deals, Unilever Nigeria Plc followed with the exchange of 2.59 million shares valued at N61.11 million in 65 deals and PZ Cussons Nigeria Plc recorded 0.406 million shares valued at N12.21 million in 35 deals.


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