The market capitalisation of the Nigerian Stock Exchange (NSE) lost N103 billion on Tuesday to reverse the gains of the last three days due to profit taking.
The News Agency of Nigeria (NAN) reports that the market capitalisation, which opened at N9.569 trillion, dropped N103 billion or 1.08 per cent to close at N9.466 trillion.
Similarly, the All-Share Index lost 300.86 points or 1.08 per cent to close at 27,533.03 against 27,833.89 achieved on Monday.
Market analysts attributed the development to profit taking embarked by investors to take advantage of the gains recorded in the last three trading days.
NAN reports that Forte Oil topped the losers’ chart, dropping N12.75 to close at N235.90 per share.
Nigerian Breweries came second with N2.50 to close at N113, while Lafarge. Africa dipped by N1.99 to close at N90.01 per share.
NSE LOSES N103BN IN MARKET CAPITALIATION DUE TO PROFIT TAKING
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