Profit taking was persistent on the Nigerian Stock Exchange (NSE) on Friday with investors net worth dropping further by N155 billion.
Specifically, the market capitalisation dipped N155 billion or 1.17 per cent to close at N13.049 trillion compared with N13.204 trillion achieved on Thursday.
Also, the All-Share Index which opened at 25,312.05 shed 295.75 points or 1.17 per cent to close at 25,016.30.
An analysis of the price movement table shows that Dangote Cement topped the losers’ chart, dropping by N2.90 to close at N139 per share.
BUA Cement trailed with a loss of N2.30 to close at N40, while Nigerian Breweries lost N2 to close at N42 per share.
Cadbury was down by 80k to close at N7.65, while Guinness dipped by 70k to close at N18.30 per share.
On the other hand, Boc Gases dominated the gainers’ table, gaining 40k to close at N4.40 per share.
Skyway Aviation Handling followed with 24k to close at N2.73, while NASCON gained 20k to close at N11.50 per share.
Custodian Investment garnered 20k to close at N6.05, while Neimeth Pharmaceuticals increased by 16k to close at N1.77 per share.
The volume of shares traded dipped by 20.62 per cent as investors bought and sold 214.49 million shares valued at N2.51 billion in 4,342 deals.
This was in contrast with 270.19 million shares worth N5.29 billion transacted in 4,550 deals on Thursday.
The banking stocks drove the activity chart with Zenith Bank emerging the most active, exchanging 22.27 million shares worth N373.34 million.
Fidelity Bank followed with an account of 18.54 million shares valued at N33.48 million, while Guaranty Trust Bank sold 17.16 million shares worth N412.26 million.
Nigerian Breweries traded 15.59 million shares valued at N666.58 million, while FBN Holdings accounted for 15.55 million shares worth N83.75 million..
[6/5, 9:28 PM] Tunde Abatan: Four hours rain wrecks havoc in Minna
Many families, shops and business concerns in Minna capital of Niger state are now counting their loss as a result of a four hour heavy rain in the state capital Friday morning.
It left properties worth millions of naira destroyed after the rain which started 4am and stop by 8am.
Several people were trapped in their home due to the lock down and some residents we spoke to only said they knew the rain was heavy but they would not know the extent of damage.
Some residents said they had been experiencing power supply blackout for about four days so they were on Generator.
“Most people here are on cable tv and hardly watch the local media or listen to the radio”, our sources said.
A resident along the Airport road who disallowed photograph of his fallen fence said he is a retired civil servant and does not have the resources to raise the fence.
Checks round the town revealed that several rooftops, houses, fences, were destroyed as well as trees, and electric poles among others were uprooted by the rainstorm.
A report said the heavy rain uprooted a big tree at the Sabon Tete area of Tunga, under which a motorcycle was packed along the road that took the efforts of several people including tree cutters to retrieve the already damaged motorcycle.
The owner of the motorcycle, Mallam Danasabe Rijau and his wife Aisha thanked God for saving his life and described what happened as an act of God.
Rijau, a father of nine said the rain, which was supposed to a blessing, has destroyed the only source of livelihood for him and his family.
“Though, I thank God for saving me, I never knew this is going to happen to me today. This morning after washing my motorcycle and sat inside but, stepped out when the rain started.
Few minutes later, when I looked back, I saw the tree on my Okada. If, I have not left the place, I would have died. I thank God for that. And, now with our only means of living destroyed, I need help to feed my large family,” he stated.
Along the Shiroro Road, the downpour also destroyed rooftops, and uprooted trees on the road including the two trees in front of the Federal University of Technology, which obstructed vehicular movements.
To ensure free flow of vehicles, men of the state Police and the Nigeria Security and Civil Defense Corps, NSCDC were drafted to the area and tree cutters were busy cutting and clearing the road.
The rain also raked havoc at Niteco, Bay Clinic, Sabon Gari, Centre Mosques areas among others where rooftops were blown away even as carpenters were seen carrying out repairs on their own.
