The Nigerian Equity Market on Monday commenced the weekly activities on the negative trajectory as investors continued to take profits to increase capital gains.
The key market indicators, NSE ASI, declined by 0.23 per cent as bargain hunters continued to take profits from gains recorded last week. However, the market breath closed positive with 22 losers against 35 gainers.
A turnover 1.01 billion shares exchanged in 7,404 deals was recorded in the day’s trading.
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Insurance sub-sector was the most active with 229.92m shares exchange by investors in 776 deals. Volume in the sub-sector was largely driven by activities in the shares of SUNU Assurance Plc.
The premium sub-sector boosted by the activities in the shares of FBNH Plc and Access Bank Plc followed with a turnover of 135.74 million shares in 2,078 deals.
https://frontend.1worldonline.com/widget/smart3-1c863be9.html#!/widget/7dbe50ea-d0c6-4d95-a6ed-c6d775ee8d1e&type=widget&code=7dbe50ea-d0c6-4d95-a6ed-c6d775ee8d1e&mode=smart3&token=7dbe50ea-d0c6-4d95-a6ed-c6d775ee8d1e-1&location=https%3A%2F%2Fpunchng.com%2Fequity-market-down-by-n40bn-on-profit-takings%2F about:blank Further analysis of the day’s trading showed that in percentage terms, African Insurance Plc, AIICO Insurance Plc, Cadbury Nigeria Plc, RT Breicoe Plc, Tranex Plc and Universal Insurance Plc topped the day’s gainers’ table with 10 per cent each to close at 22 kobo, N1.32, N10.45, 22 kobo, 88 kobo and 22 kobo per share respectively while BOC Gases Plc followed with 9.98 per cent to close at N13.77 per share. Livestock Feeds Plc added 9.95 per cent to close at N2.32 per share.
Japaul Gold Plc led the losers with a drop of 6.58 per cent to close at N1.42 per share on the flip side, while Flour Mills Nigeria Plc shed 5.49 per cent to close at N31 per share. Wema Bank Plc shed 5.33 per cent to close at 71 kobo per share.
