Major Blue Chips Drop Price On NSE

Some major blue chips at the Nigerian Stock Exchange (NSE) on Friday recorded price depreciation as a result of profit taking by investors.

The News Agency of Nigeria (NAN) reports that Mobil topped the price losers’ chart, dropping N2 to close at N174 per share.

Okomu Oil lost 99k to close at N33.01, while Stanbic IBTC and International Breweries depreciated by 97k each to close at N32.03 and N30.5 per share, respectively.

NAN reports that Zenith Bank lost 71k to close at N22.8 per share.

The All-Share Index lost 127.86 points or 0.31 per cent to close at 40,444.39 against 40,572.25 recorded on Thursday.

The market capitalisation dipped by N42 billion or 0.31 per cent to close at N13.354 trillion compared with N13.396 trillion achieved on Thursday.

On the other hand, Forte Oil led the gainers’ table with N2.95 to close at N220.5 per share.

Dangote Cement followed with a gain of N1.86 to close at N217.01, while Guinness grew by N1.5 to close at N188 per share.

Lafarge Wapco also gained 99k to close at N127.99, while Champion appreciated by 74k to close at N15.73 per share.

In all, investors staked N2.68 billion on 242.968 million shares in 5,169 deals against 698.841 million shares worth N6.07 billion traded in 4,833 deals on Thursday.

Ikeja Hotel emerged the most active equity with 35.73 million shares worth N93.44 million.

Sterling Bank came second with 22.62 million shares valued at N52.55 million, while Transcorp sold 21.12 million shares worth N115.94 million. (NAN)

Source : Leadership

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