The market indices of the Nigerian Stock Exchange (NSE) contracted by 1.02 percent on Friday due to profit taking, halting over a week rally in the market.
Market capitalisation lost N131 billion or 1.02 percent to close the day at N12.705 trillion compared to N12.836 trillion achieved on Thursday.
Similarly, the All-Share Index which opened at 37,245.17 lost 380.46 basis points or 1.02 percent to close the week at 36,864.71.
An analysis of the price movement table showed that Dangote Cement recorded the highest price loss to lead the losers’ chart, dropping by N9.48 to close at N235.51 per share. This represents 3.87 percent loss having opened the day at N244.99.
Nigerian Breweries shed N2.15 to close at N171.62. It opened the day with N173.77 and recorded 1.24 percent, while Forte Oil lost N1.20 meaning 1.91 percentage lost to close at N61.70 per share.
Guinness which opened the day at N66 dipped 95k to close at N65.05 and Cadbury dropped by 75k equalling 6.7 percent to close at N10.45 per share.
Nestle led the gainers’ table with a gain of N47.77 to close at N1,003.27 per share following investors reaction to the half year earnings released to the market.
It was trailed by Presco with a gain of N2.20 to close at N73.20. The gain means 3.1 percent growth for the stock that opened at N71. Dangote Sugar garnered 98k to close at N10.86 per share, the stocks moved upward by 9.92 percent.
Lafarge Africa chalked up 1.25 percent with a positive growth of 75k to close at N60.75, while International Breweries rose by 50k to close the day at N32 per share.
Also, the volume of shares traded closed lower with an exchange of 525.59 million shares worth N8.14 billion transacted in 5,799 deals.
This was in contrast to a turnover of 542.80 million shares valued at N8.01 billion traded in 5,939 deals on Thursday.
FBN Holdings emerged investors delight with a turnover of 96.86 million shares valued at N548.65 million.
Diamond Bank came second with 88.09 million shares worth N117.02 million and Transcorp transacted 57.85 million shares valued at N83.68 million.
