Profit taking dips equities indices by 0.96%

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equityTHE Nigerian Equities market succumbed to profit-taking today as the bourse dropped by 0..96 per cent to close at 36,953 points from a previous close of 37,312.28 points.

Market capitalisation similarly declined to close at N12.850 trillion and market breadth significantly favoured the bears with 32 losers as against top 16 gainers.

The Nigerian Stock Exchange ASEM remained static at 1162.45 points as all sector indices recorded negative daily changes with the exception of the oil and gas sector which increased by 0.15 per cent relative to its previous close.

The volume and value of trades on Tuesday both dipped from previous trading levels of 336 million shares and N30 billion to 238 million shares N3.4 billion, respectively.

Banking stocks resumed their dominance of the equities performance charts as FBN Holdings, Diamond Bank, Stanbic IBTC, Transnational Corporation and Zenith Bank topped the volume-based chart while the value-based rankings were topped by Stanbic IBTC, FBN Holdings, Dangote Cement, Guaranty Trust Bank and Zenith Bank.

The post Profit taking dips equities indices by 0.96% appeared first on Tribune.

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