Trading activities on the floor of Nigerian Stock Exchange yesterday returned to bearish trend as investors embarked on profit taking on their investment.
Capital market operators said that investors embarked on profit taking ahead of the presidential election because of politics uncertainty.
They said that most of investors sitting on the fence decided to off load their stocks ahead of Saturday predidential election.
Meanwhile Market Capitalisation of listed equities declined slightly by N18 billion to N12.087 trillion from N12.105 trillion reported on Tuesday. The NSE All Share Index decreased by 48.38 basis points to 32413.92 points from 32462.31 traded the previous day. Investors exchanged 470.399 million shares worth N4.240 billion in 5858 deals against 580.413 million shares valued at N8.032 billion in 7052 deals.
An analysis of the investment showed
Unilever Nigeria Plc led gainers table during the day appreciating by N4.00 to close at N44.00, Okomu Oil followed with a gain of N2.80 kobo to close at N81.00, Nigerian Breweries added N0.95 kobo to close at N81.00, Cement Company of Northern Nigeria grew by N0.95 kobo to close at N21.95 kobo while Berger Paint appreciated by N0.75 kobo to close at N8.25 kobo.
On the contrary, Seplat Petroleum Development Company Plc recorded the highest loss for the day, dropping by N20.00 to close at N580.00, Forte Oil trailed with a loss of N1.70 kobo to close at N28.00, PZ Cussons fell by N1.25 kobo to close at N12.00. Guaranty Trust Bank Plc decreased by N1.00 to close at N37.95 kobo while C & I Leasing down by N0.81 kobo to close at N7.33 kobo.
Further analysis showed that Diamond Bank Plc recorded the highest volume of activities during the day, exchanging 131.001 million shares worth N314.357 million, Zenith Bank Plc followed with account of 44.085 million shares valued at N1.097 billion , United Bank for Africa traded 40.613 million shares valued at N319.491 million, Transnational Corporation of Nigeria traded 30.307 million shares worth N47.344 million while FCMB group sold 25.784 million shares cost N60.145 million.
