NSE market indices slump by 0.34 per cent - Profit taking

Activities on the Nigerian Stock Exchange opened for the week on Monday on a negative

trend with the market indices depreciating by 0.34 per cent.The News Agency of Nigeria reports that the market capitalisation shed N29 billion or 0.34 per cent to close at N8.518 trillion compared with N8.547 trillion achieved on Friday.Similarly, the All-Share Index, which opened at 24,850.11, lost 85.01 points or 0.34 per cent to close at 24,765.10 due price loses.Market analysts attributed market instability to challenges in foreign exchange market, 2016 budget impasse and lack of economic blueprint.NAN reports that Forte Oil led the losers’ chart, dropping by N25.12 to close at N250 per share.Guinness trailed with a loss of N1 to close at N97, while Flour Mills Nigeria shed 20k to close at N20 per share.Unilever lost 19k to close at N3.68 and Port Land Paint declined by 13k to close at N2.49 per share.On the other hand, 7UP topped the gainers’ table, growing by N2.41 to close at N145 per share.