N143bn lost in Lagos as profit takers drag down stocks

N143bn lost in Lagos as profit takers drag down stocks

Friday, October 31, 2014 7:17 pm

Stocks failed to rally at the Nigerian Stock Exchange (NSE) Friday, as market indicators ended on a negative note.

The bears were dominant as they depreciated market value by 1.13 per cent, in the rush for profit-taking.

The All-Share Index declined by 429.75 points to close at 37,550.24, as against 37,979.99 posted on Thursday.

The market capitalisation, which opened at N12.579 trillion, lost N143 billion to close at N12.436 trillion, due to price losses by some major blue chips. Guinness led the losers’ by shedding N8.5 to close at N161.5 per share.

Total Oil lost N8.29 to close at N157.71, while 7UP lost N8 to close at N165 per share.

Cadbury dipped by N4.62 to close at N176.66, while Nigerian Breweries dropped N4 to close at N162 per share.

Conversely, Lafarge Wapco topped the gainers’ chart by N1.78 to close at N109.99 per share.

Dangote Sugar garnered 26k to close at N7, while Portpaint rose by 22k to close at N5.23 per share.

Zenith Bank increased by 2k to close at N21.2, while Fidson improved by 16k to close at N3.48 per share.

Linkage Assurance emerged the most traded stock, accounting for 41.069 million shares worth N20.53 million.

Transcorp recorded a turnover of 34.79 million shares valued N140.55 million, while Sterling Bank sold 32.81 million shares valued at N76.57 million.

Ikeja Hotel accounted for 23.54 million shares worth N46.69 million, while UBA transacted 15.23 million shares valued N101.60 million.

In all, a total of 330.763 million shares worth N3.55 billion were traded by investors in 4,564 deals.

This was against the 747.912 million shares valued at N5.89 billion traded in 3,817 deals on Thursday.

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