Stock market capitalization dips further by 1.48%

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Transactions on the Nigerian Stock Exchange (NSE) ended  for three consecutive days on a downward trend as the market capitalization dipped further by 1.48 per cent.

The  market capitalization lost N185 billion or 1.48 per cent to close at N12.28 trillion against the N12.465 trillion recorded on Tuesday.

The All-Share Index also fell by 1.48 per cent or 536.8 points to close at 35,629.13 from the 36,165.93 posted on Tuesday.

Mobil topped the losers’ table, dropping N8.68 to close at N165.11 per share.

Dangote Cement trailed with a loss of N8.68 to close at N204.52, while Guinness depreciated by N1.98 to close at N75 per share.

Forte Oil dropped N1 to close at N49, while Unilever lost 71k to close at N39.29 per share.

On the other hand, Total Oil led the gainers’ chart, chalking up N6.5 to close at N243 per share.

Nigerian Breweries appreciated by N1.4 to close at N185, while Cutix rose by 22k to close at N2.43 per share.

MayBaker share price rose by 13k to close at N3.01, while Continsure gained 6k to close at N14 per share.

Fidelity Bank remained the toast of investors, accounting for 42.81 million shares worth N58.21 million.

Sterling Bank came second on the activity chart with 39.16 million shares valued at N39.89 million, while Access Bank sold 33.03 million shares worth N324.79 million.

UBA traded 29.48 million shares valued at N279.72 million, while FBNH sold 12.95 million shares worth N74.14 million.

The volume of shares traded rose by 66.08 per cent as 239.906 million shares worth N2.93 billion were traded in 4,371 deals compared with the 144.452 million shares valued at N1.51 billion traded in 3,716 deals on Tuesday.

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