NGX: Airtel Africa leads laggards as market capitalisation dips N248bn
The Nigerian stock market on Friday lost N248 billion within six hours of trading due to profit taking on Airtel Africa.
The market capitalisation which opened at N20.043 trillion dipped N248 billion or 1.24 per cent to close at N19.795 trillion.
Similarly, the All-Share Index inched lower by 475.68 points or 1.24 per cent to close at 37,994.19 from 38,469.87 points reported on Thursday.
Airtel Africa dominated the laggards’ chart in percentage terms declining by 9.99 per cent to N601 per share.
NAHCO trailed with 9.65 per cent to close at N2.34, while NEM insurance declined by 9.09 per cent to close at N2 per share.
Regence Insurance went down by 8.16 per cent to close at 45k, while Red Star Express dipped 6.04 per cent to close at N3.11 per share.
On the other hand, FTN Cocoa led the gainers’ table in percentage terms, appreciating by 9.68 per cent to close at 34k per share.
John Holt Engineering followed with a gain of 8.96 per cent to close at 73k, while Unity Bank gained 7.27 per cent to close at 59k per share.
Neimeth International Pharmaceutical increased by 5.88 per cent to close at N1.80, while Wapic Insurance rose by 5.36 per cent to close at 59k per share.
Guaranty Trust Bank Holding Company drove the activity chart with an exchange of 30.97 million shares valued at N909.73 million.
Courteville Business Solution followed with 22.18 million shares worth N4.84 million, while Chams traded 12.002 million shares valued at N2.40 million.
Fidelity Bank sold 11.51 million shares worth N26.60 million, while Transcorp exchanged 10.94 million valued at N10.31 million.
In all, investors bought and sold 241.84 million shares worth N2.71 billion achieved in 3,819 deals.
This was in contrast with a turnover of 238.24 million shares valued at N2.58 billion transacted in 3,927 deals on Thursday.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Africa
Gabon’s national dialogue proposes economic development, good governance
Mr Mve stated that youth unemployment was one-factor government officials believed to be linked to mounting insecurity.
Lagos
Nigeria’s ruling APC used political thugs to suppress Igbo votes in Lagos, rig Sanwo-Olu back to office: U.S. Govt
“Viral videos on social media showed APC supporters in Ojo threatening to attack ethnic Igbo voters presumed to be pro-Obi.’’
NationWide
Public procurement association tasks members on ethical values, best practices
“We are trained to identify those risks and mitigate them.’’
Sport
Mbappe leads PSG’s 4-1 victory over relegation-haunted Lorient
Lorient keeper Yvon Mvogo had to get down well to palm away Mbappe’s curling 17th-minute effort.
NationWide
Runway Overshoot: Dana plans refunds for customers after FG orders suspension of operations
The airline said it was processing refunds for affected flights over the next one month.
Education
Argentines protest budget cuts to public universities
The protestors are being joined by professors and students with their union leaders.