The All-Share Index of the Nigerian Stock Exchange (NSE) on Monday slipped to 27,000 mark market due to persistent profit taking barely two weeks after it dropped to 28,000 mark.
The index lost 310.79 points or 1.10 per cent to close at 27,820.49 to close at 28,131.28 posted on Friday.
Also, the market capitalisation which opened at N9.670 trillion lost N107 billion or 1.11 per cent to close at N9.563 trillion due to huge loss recorded by major blue chip equities.
Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., attributed the development to the situation of the economy.
Kurfi said that nothing was moving in the economy that would propel activities in the market.
He said the outcome of the Monetary Policy Committee (MPC) meeting, currently going on in Abuja, would determine further direction of the market.
Guinness led the losers’ chart with N6.40 to close at N121.84 per share.
It was trailed by Nigerians Breweries with a loss of N5 to close at N115, while ETI dropped by 65k to close at N16.50 per share.
Lafarge WAPCO shed 50k to close at N89.50 and Zenith Bank declined by 45k to close at N16.01 per share.
Conversely, PZ led the gainers’ table, growing by 72k to close at N27.13 per share.
CAP garnered 72k to close at N38.50, while 7UP Bottling Company gained 45k to close at N184 per share.
Portland Paint improved by 17k and Berger Paint N0.15 kobo to close at N9.75 per share.
Zenith recorded the highest volume of activities, trading 42.362 million worth N684.743 million.
FBN Holdings trailed with 20.74 million shares valued N103.67 million, while Diamond Bank traded 14.84 million shares valued N37.01 million.
Fidelity Bank accounted for 13.83 million shares worth N19.91 million and investors’ staked N42.54 million on 11.73 million share of UBA.
In all, investors’ bought and sold 154.79 million shares worth N2.22 billion compared with 142.61 million shares exchanged in 2,663 deals.
NAN reports that this was against the 142.61 million shares valued N1.05 billion traded in 2,528 deals on Friday.