Nigerian Bourse drops by 1.10% in one week on profit taking, sheds N409bn

Toyin Samuel

The Nigerian stock market declined by 1.01% week on week, as NESTLE, PRESCO and other 51 stocks shed weights.

The All Share Index dropped by 1.10% to settle at 67,395.74 points from 68,143.34 points. Consequently, the Market capitalization also dropped by 1.10% to settle at N36.886 trillion from N37.295, thereby shedding N409 billion.

An aggregate of 2.93 billion units of shares were traded in 44,654 deals, valued at N47 billion.

The market breadth closed negative as only 32 stocks gained against 53 stocks that declined in their share prices week to date.


OANDO led other gainers in the course of last week with 42.86% growth, closing at N11.00 from the previous close of N7.70.

CHELLARAM, CWG, Cornerstone Insurance and Northern Nigerian Flourmills shed their share prices by 32.76%, 29.76%, 12.90% and 12.03% respectively.

Others among the top 10 gainers include: VITAFOAM 9.78%, CAVERTON 9.30%, JOHNHOLT 9.16%, Transcorp Hotel 8.19% and UBA 7.87% respectively.


ABC Transport led other price decliners, shedding 33.63% of its share price to close at N0.75 from the previous close of N1.13.

OMATEK, ETRANZACT, Guinea Insurance and TANTALIZER shed 31.03%, 26.50%, 19.44% and 17.39% respectively.

Other price decliners include: Academy Presss (16.07%), LEARNAFRICA (15.13%), Regency Alliance (12.50%), LASACO (11.11%) and Dangote Sugar (10.83%) respectively.

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