Investors lose N167 billion on profit-taking in industrial goods stocks

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Investors lose N167 billion on profit-taking in industrial goods stocks



Profit-taking particularly in big-cap industrial stocks on Friday ended the feeble recovery posted by the Nigerian bourse on Thursday as the bourse went down by 1.40 per cent or N166.515 billion.
This reversed the gain reported for Thursday trade and raising fears that a sustained rebound may still be far from a market that has recorded just one session of gain so far this month.
Livestock Feeds, NEM, BUA Cement, Sovereign Insurance and Dangote Cement drove the downbeat performance as huge volumes of shares in those stocks were up for sale.
The Industrial Goods Index declined by 4.55 per cent to 1,922.02 index points, the only sectorial index that depreciated.
The market posted a negative breadth as 15 gainers emerged against 22 losers.
The All Share Index (ASI) was up by 1.20 per cent at 37,893.61 index points. Market capitalisation climbed to N19.805 trillion.
Year to date, the index is up by 0.42 per cent.
TOP FIVE GAINERS
UACN Property topped the gainers’ chart, appreciating by 9.59% to close at N0.80. Linkage Assurance added 9.26% to end today’s trade at N0.59. Japaul Gold advanced by 9.23% to N0.71. Unity Bank rose to N0.71, notching up 9.23% in the process. African Alliance Insurance completed the top 5, climbing up by 9.09% to N0.24.
TOP FIVE LOSERS
Livestock Feeds led laggards, declining by 9.78% to close at N2.03. NEM shed 9.69% to end today’s trade at N2.05. BUA Cement fell to N73.30, losing 7.22%. Sovereign Trust slumped to N0.26, recording 7.14% depreciation. Royal Exchange closed at N220, going down by 3.51%.
ALSO READ: Nigerian stocks in longest losing streak so far in 2021
TOP FIVE TRADES
395.623 million shares valued at N5.190 billion were traded in 5,321 deals.
Zenith was the most active stock with 55.602 million of its stocks worth N1.375 billion traded in 550 deals. 42.710 million units of Transcorp shares priced at N40.966 million exchanged hands in 138 transactions. FBN Holdings had 42.068 million shares valued at N302.489 million traded in 267 deals. GTB traded 42.061 million shares estimated at N1.284 billion in 520 transactions. Access traded 40.941 million shares valued at N330.479 million in 396 deals.

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