Profit Taking Triggers N311bn Loss in Nigerian Stock Market

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Due to profit-taking in medium- and large-capitalized stocks, the equities market saw a negative performance on Tuesday, with indices falling by 0.33 percent.

This came following a bullish run for four straight sessions.

In comparison to Monday’s N93.969 trillion, market capitalization dropped by N311 billion, or 0.33 percent, to close at N93.658 trillion.

Additionally, the All-Share Index settled at 146,940.29 after losing 487.66 points, or 0.33 percent.

Consequently, the market breadth closed negative, with 34 losers compared to 21 gains, and the year-to-date return dropped to 42.76 percent.

Transcorp Hotel dropped by 9.95% to settle at N155.60 per share, while Eterna and Austinlaz led the losers’ table by 10% each, finishing at N31.95 and N2.07, respectively.

UACN lost 9.09 percent, closing the session at N88 per share, while Ikeja Hotel fell 9.65 percent, closing at N28.10.

Conversely, Learn Africa ended the session at N6.30, leading the gainers’ table by 9.57%.

Mecure finished at N32.40, trailing by 8.72%, while Deap Capital Management increased by 7.50%, reaching N1.72 a share.

RT Briscoe increased by 5.96 percent to close at N3.20 per share, while International Energy Insurance increased by 6.52 percent to close at N2.45.

With 1.03 billion shares traded, or N7.50 billion, Etranzact concluded with the highest volume and value. (NAN).

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