NSE: Market Capitalisation Dips By ₦150bn Due To Profit Taking

Activities opened on the Nigerian Stock Exchange (NSE) on Monday with a negative
trend as the market capitalisation lost ₦150 billion and volume depreciated by 42.82 per cent.

The market capitalisation, which opened at ₦14.753 trillion, shed
N150 billion or 1.02 per cent to close at ₦14.603 trillion, amid losses by blue chips.

Also, the All-Share Index dipped by 411.98 points or 1.01 per cent to close at 40,429.18 compared with 40,841.14
posted on Friday, April 6.

The market was weighed down by profit taking by some investors with major blue chips
recording price losses.

Unilever recorded the highest loss to lead the losers’ table, shedding ₦4.80 to close at ₦55 per share.

Lafarge Africa trailed with a loss of ₦3.20 to close at ₦41 in spite of ₦1.50 final dividend declared for
the financial year ended Dec. 31, 2017.

Dangote Cement shed ₦2.90 to close at ₦252, while Guinness depreciated by ₦1 to close at ₦103.

Dangote Flour also lost 65k to close at ₦13.15 per share.

Analysts attributed the development to sell-off and profit taking on high cap stocks that suffered
losses after their share prices were adjusted for dividend declared and some companies that declared
unimpressive earnings.

On the other hand, GlaxosmithKline led the gainers’ table during the day, growing by ₦10 to close at
N30 per share.

Champion Breweries followed with a gain of 20k to close at ₦2.48, while Cement Company of Northern Nigeria
also gained 20k to close at ₦18 per share.

Fidson Healthcare added 12k to close at ₦5.80, while Axa Mansard grew by 12k to close at ₦2.52 per share.

Similarly, the volume and value of shares traded dropped by 42.82 per cent and 15.38 per cent, respectively.

Consequently, investors bought and sold 287.04 million shares valued at ₦4.95 billion transacted in 4,285 deals.

This was in contrast with a turnover of 501.96 million shares worth ₦5.85 billion exchanged in 6,108 deals on Friday.

FBN Holdings was the most active in volume terms, accounting for 29.58 million shares worth ₦359.09 million.

Skye Bank followed with 23.12 million shares valued at ₦15.04 million, while FCMB Group traded 22.95 million
shares worth ₦53.94 million.

Zenith International Bank sold 22.49 million shares valued at ₦606.94 million, while Nigerian Breweries
exchanged 20.64 million shares worth ₦2.58 billion.