Stocks slum as ASI dips 0.48%
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) plunged by 0.48 percent Thursday, reversing gains recorded in previous session, amid renewed profit-taking activities by investors.
Trading activity for the day which closed with 20 losers as against 10 gainers even saw share prices of big caps such as Dangote Cement, Zenith Bank, Guaranty Trust Bank and FBN Holdings dip 1.04 percent, 0.89 percent, 0.84 percent and 1.20 percent respectively, dragging the industrial and banking sector indices lower by 0.52 percent and 0.37 percent respectively.
Hence, the ASI year to date loss stood in negative territory of-0.70 percent while market Capitalization lost N55.75billion representing a decline of 0.48 percent, to close at N11.64trillion.
Activity chart ended mixed as the total volume of equities traded fell by 52.94 percent to 177.63 million units, while the total value of equities traded rose by 13.18 percent to N2.56 billion as Zenith shares accounted for 70 percent of the total value sold in the market on Thursday.
MCNICHOLS emerged the day’s top gainer with a share price percentage growth of 9.62 percent to close at 57 kobo per share while Learn Africa emerged as the top loser, having lost 9.66 percent of its share price to close the day at N1.31 per share.