NGX Slips by N13bn as Investors Take Profits, Despite More Gainers
The Nigerian Exchange closed marginally lower on Friday as investors took profits in several medium- and large-cap stocks. Market capitalisation fell by N13 billion, or 0.01%, to N158.326 trillion, while the All-Share Index declined by 78.58 points to 245,283.68. Losses in Fortis Global Insurance, CAP, Veritas Kapital Assurance, Vitafoam and The Initiates weighed on the market. Fortis fell 10% to N2.34, while CAP lost 9.97% to close at N128.25. Despite the dip, market breadth remained positive, with 34 gainers against 29 losers. Eterna, Consolidated Hallmark Holdings, AVA Capital and Regency Alliance Insurance each gained 10%. Trading volume dropped 55.14% to 942.97 million shares worth N46.74 billion. AVA Capital led by volume, while Seplat Energy recorded the highest value of trades.
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