NSE’s market capitalisation plunges further by N343billion

The bears have continued to strengthen its hold on the equities sector of the Nigerian Stock Exchange, following price losses incurred by most highly capitalised stocks, as market capitalisation depreciates further by N343 billion.

Yesterday, virtually all the highly capitalised companies recorded price depreciation, as 31 stocks depreciated in price, against 10 that constituted the gainers chart.

Specifically, market capitalisation of listed equities down by N343 billion 2.68 per cent to N12.443trillion from N12.786trillion traded on Tuesday.Investors traded 224.773 million shares worth N5.090billion in 4822 deals against 391.625 million shares valued at N5.436billion exchanged hands the previous day in 5285 deals.

Nestle Nigeria Plc led gainers table growing by N11.90 kobo to close at N1220.00, Nascon followed with a gain of N0.31 kobo to close at N12.00 per share.Union Bank of Nigeria appreciated by N0.21 kobo to close at N6.00, Dangote Sugar also advanced by N0.13 kobo to close at N12.80 kobo while Vitafoam Nigeria Plc added N0.12 kobo to close at N2.83 kobo.On the other hand, Dangote Cement recorded the highest loss for the day, dropping by N11.00 to N214.00 per share.

Total Nigeria trailed with a loss of N9.55 kobo to close at N227.00; Nigerian Breweries declined by N5.00 to close at N185.00; Guinness Nigeria Plc depreciated by N1.93 kobo to close at N87.96 per share; and Stanbic IBTC was down by N1.92 to close at N37.03 kobo

The trading result further showed that FBN Holdings recorded the highest volume of activities during the day, trading 34.466 million shares worth N206.834million.

Access Bank Plc followed with 27.425 million shares worth N276.911million, Guaranty Trust Bank traded 25.150 million shares valued at N970.777million.Jaiz Bank sold 15.082 million shares at N11.992million, while Zenith International Bank traded 12.656 million shares worth N284.670 million.