Nigerian Stock Exchange market capitalization dips by N294bn

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Major blue chip has  depreciated further on the Nigerian Stock Exchange (NSE) , forcing the market indicators to close negatively with loss of 2.25 per cent.

The market capitalization shed N294 billion in a day to close at N12.786 trillion compared with N13.080 trillion recorded on Monday due to sell pressure.

Also, the All-Share Index extended its lost, dropping by 854.36 points or 2.25 per cent to close at 37,096.60 in contrast with 37,950.96 achieved on Monday.

Dangote Cement, one of the most capitalised equity on NSE, recorded the highest loss, shedding N10 to close at N225 per share.

Nigerian Breweries trailed with a loss of N3 to close at N190, while Lafarge Africa dipped N2.99 to close at N60.01 per share.

Stanbic IBTC also lost N2.05 to close at N38.95 per share,

Conversely, Seplat led the gainers’ table during the day, appreciating by N3 to close at N482 per share.

Conoil followed with a gain of N1.30 to close at N33.89 and GlaxoSmithKline increased by N1 to close at N21 per share.

Berger Paint added 34k to close at N7.14, while Unilever grew by 13k to close at N45.63 per share.

An analysis of the activity chart indicated that Access Bank was the most active stock for the day, trading 179.30 million shares worth N1.87 billion.

Zenith International Bank followed with an exchange of 40.15 million shares valued at N937.28 million and United Bank for Africa traded 24.88 million shares worth N233.64 million.

FBN Holdings transacted 22.07 million shares valued at N133.77 million, while Guaranty Trust Bank sold 11.86 million shares worth N461.58 million.

In all, the volume of shares traded inched by 23.89 per cent with a turnover of 391.63 million shares valued at N5.44 billion traded in 5,285 deals.

This was against a turnover of 316.12 million shares worth N4.24 billion transacted in 4,113 deals on Monday.

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