Equity market sheds N6bn on back of profit taking

Trading activities on the floor of Nigerian Exchange yesterday wheelled back to negative trend, shedding N6 billion as investors continued in profit taking.

Market Capitalisation of listed equities declined by 0.03 per cent to N20.553 trillion from N20.559 trillion reported the previous day

The Nigerian Exchange (NGX) All Share Index also depreciated by 10.86 basis points to 39449.82 points from 39460.68 points reported on Tuesday.

Investors traded 198.331 million shares valued at N1.056 billion in 3336 deals against 196.808 million shares worth N1.453 billion exchanged hands the previous day in 3881 deals.

A review of transactions for the day showed that Capital Hotel led gainers table, appreciating by 10 per cent to N3.19, Eterna PLc followed with a gain of 10.0 per cent to close at N6.82, Morison Industry Nigeria Plc increased by 9.74 per cent to N1.69, Transcop Hotel added 9.30 per cent to N4.70, UPDC grew by 9.22 per cent to N1.54.

On the contrary, Academy Press recorded the highest loss for the day, shedding 9.76 per cent to N0.37 , Pharm Deko trailed with a loss of 9.52 per cent to N1.71, Mutual Benefits Assurance dipped by 8.57 per cent to N0.32, ABC Transport sheds 7.69 per cent to N0.36 , Unity Bank dropped by 6.67 per cent to N0.50.