Profit Taking: NSE Market Indices Decline By 0.17%


The crucial market indices of the Nigerian Stock Exchange (NSE) dropped by 0.17 per cent on Thursday after the work-free day to mark the May 29 inauguration date.

Specifically, the All-Share Index lost 52.81 points or 0.17 per cent to close at 31,254.19 compared with 31,307.00 achieved on Tuesday.

Similarly, the market capitalisation which opened at N13.789 trilion shed N23 billion or 0.17 per cent to close at N13.766 trillion.

In spite of the decline recorded by market indicators, market breadth closed in favour of the bull with 20 gainers against 19 decliners.

Nestle led the gainers’ table, gaining N4.50 to close at N1,454 per share.

MTN Nigeria Communication followed with a gain of N3.45 to close at N136, while Stanbic IBTC appreciated by 75k to close at N43 per share.

United Bank for Africa added 35k to close at N6.60, while Julius Berger also garnered 35k to close at N23.85 per share.

Conversely, Unilever recorded the highest loss to lead the losers’ table, shedding…

Source: Leadership Newspaper