…As Mobil, Transnationwide, others lead losers
By Chinwendu Obienyi
The last trading week of August on the floor of the Nigerian stock market yesterday, began on a negative note with another round of profit taking knocking off about N140 billion from the previous trading session’s soft landing.
The All Share Index (ASI) fell by 0.90 per cent to close at 36,317.31 points while the market capitalisation lowered to N12.5 trillion.
Analysis showed that sell-offs were mostly reflected on the sectoral activity chart in banking, consumer goods and industrial stocks as profit taking was dominated by 30 losers while nine stocks advanced.
Mobil and Transnationwide Express lost 5 per cent each to close at N182.93 and 0.76 kobo. Conoil followed with a decline of 4.71 per cent to close at N27.70, Champion fell by 4.49 per cent to N2.34, livestock feeds decreased by 4.26 per cent to close at 0.90 kobo while Guinness lost 4.21 per cent to close at N78.07 per share.
Total on the other hand was up on the gainers list with 9.09 per cent to close at N236.50 per share. Airservice grew by 4.99 per cent to close at N5.68, Cutix rose by 4.98 per cent to close at N2.11, Vitafoam added 4.49 per cent to close at N2.79 while Continsure gained 3.88 per cent to close at N1.34.
Custodins was top on the volume chart, contributing about 190.5 million units of shares worth N647.9 million. Oando was next with the sale of 27.3 million units valued at N185.4 million while Access Bank sold 14.9 million units valued at N151.5 million. In all, investors’ appetite for stocks remained impressive as 348.1 million units of shares worth N2.98 billion were exchanged in 3,276 deals.
This is in contrast with the total of 264.3 million units worth N5.5 billion in 3,849 deals traded last week.