NSE Stock Exchange indices down by 0.88%

Mobil trailed with a loss of N2.04 to close at N263.01 and Guaranty Trust Bank shed N1.04 to close at N23.56 per share.

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Gold bars are seen at the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger/File Photo play Gold bars are seen at the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna, Austria, March 18, 2016. REUTERS/Leonhard Foeger/File Photo
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Transactions on the Nigerian Stock Exchange (NSE) on Tuesday reversed the bullish trend with market indicators dropping by 0.88 per cent as a result of profit booking.

The News Agency of Nigeria (NAN) reports that market capitalisation lost N80 billion or 0.88 per cent to close at N9.065 trillion, against the N9.145 trillion posted on Monday.

Similarly, the All-Share Index which opened at 26,580.22 dipped 233.98 points or 0.88 per cent to close at 26,346.24, in contrast with the 26,580.22 achieved on Monday.

An analysis of the price movement chart indicated that 7UP recorded the highest loss to lead the losers’ chart, dropping by N11.15 to close at N111.40 per share.

Mobil trailed with a loss of N2.04 to close at N263.01 and Guaranty Trust Bank shed N1.04 to close at N23.56 per share.

Dangote Cement lost N1 to close at N168, while Forte Oil declined by 61k to close at N79.76 per share.

Conversely, Total led the gainers’ table, growing by N5 to close at N305 per share.

It was trailed by Cadbury with a gain of 25k to close at N9.28, followed by UACP which gained 15k to close at N3.15 per share.

NAHCO added 12k to close at N2.71, while Air Services appreciated by 11k to close at N2.61 per share.

However, in spite of the drop in market indices, the volume of shares traded closed higher with an exchange of 372.85 million shares valued at N1.33 billion transacted in 4,068 deals.

This is in contrast to a turnover of 219.03 million shares worth N1.41 billion traded in 3,423 deals on Monday.

Omoluabi Savings and Loans was the toast of investors, trading 93.50 million shares worth N83.95 million.

Fidelity Bank came second with 39. 37 million shares valued at N36.03 million and FCMB Group sold 37.14 million shares worth N49.49 million.

Custodian and Allied Insurance exchanged 35.94 million shares valued at N134.79 million, while Diamond Bank sold 27.87 million shares worth N27.88 million.

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