Profit-taking sets in as index declines by 2.20%

Market pulse on the Nigerian Stock Exchange (NSE) today- Tuesday April 7th 2015 was expectedly bearish as profit taking was the other of the day. This was despite Brent crude oil price rising by 48 cents at $58.60. The equity market closed red due to negative performances from all the NSE sub sectors (consumer, oil & gas, banking and consumer goods). Trading activities decreased in volume as N581.77 billion shares worth N8.31 billion in 7,587 deals exchanged hands today. This is a decrease from the N1.17 billion shares worth N18.75 billion in 9,004 trades carried out on Wednesday. Topping in volume terms was Zenith Bank Plc., FBN Holdings Plc. and UBA Plc., while GT Bank Plc. and Zenith Bank Plc. ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with a 2.20% (-786.33) decrease to 34,941.79 from 35,728.12 the previous trading day. Market Capitalization depreciated in tandem to N11.87 trillion from N12.14 trillion the prior trading day. The Thisday BGL 50 Index closed also closed negative with a 2.36% decrease to close at 144.55 from 148.04 the previous trading day, while its market capitalization stood at N10.76 trillion from N11.02 trillion the previous trading day.

A total number of 20 stocks gained on the bourse today while 42 stocks declined, leaving 48 stocks unchanged. Glaxo Smithkline Consumer Nig. Plc. emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 10.23% to close at N56.26 per share. It was followed by CAP Plc. with a gain of 4.88% to close at N35.66 per share. Others on the gainers chart include; Nestle Nigeria Plc. UACN Plc. and Diamond Bank Plc. On the decliners’ list, Seplat Petroleum Dev. Co. Ltd. led with a loss of 9.75% to close at N400.71 per share. It was followed by Guaranty Trust Bank Plc. with a loss of 9.69% to close at N28.79 per share. Others on the decliners’ list are; Flour Mills Nig. Plc. Zenith Bank Plc. and Okomu Oil Palm Plc.