NSE’s market capitalisation slides by N10b

FOLLOWING price losses suffered by most bluechip companies, equity transactions on the floor of the Nigerian Stock Exchange yesterday re-opened on a downward note, as market capitalisation dropped by N10 billion. 

   Specifically, the market capitalisation of listed equities went down by 0.10 per cent to N9.919 trillion from N9.929 recorded last week Friday. Also the NSE All Share Index fell by 32.88 basis points to 29779.17 from 29812.05 points traded previously.                                 

   A review of the trading activities during the day showed that investors traded 263.858 million shares worth N3.874 billion in 3568 deals against 741.576 million shares valued at N12.617 billion exchanged on Friday in 4082   deals.                                      

   An analysis of the investment showed that Forte Oil led gainers table growing by N3.00 to close at N227.00, Presco Plc followed with a gain of N1.48 kobo to close at N31.11 kobo while Okomu Oil, Lafarge Wapco and Seplat Petroleum Development advanced by N1.22 kobo, N0.69 kobo and N0.35 kobo respectively to close at N25.68 kobo, N81.69 kobo and N300.90 kobo. 

  On the contrary, Dangote Cement topped losers chart, declining by N1.00 to close at N155.00, Ashaka Cement trailed with a loss of N0.99 kobo to close at N20.29 kobo while UAC of Nigeria depreciated by N0.41 kobo to close at N36.59 kobo. Other companies that recorded price depreciation were Zenith International Bank and RedStarex  which shed N0.40 kobo and N0.18 kobo respectively to close at N36.59 kobo and N3.62 kobo.         

   Further analysis of the investment indicated that financial service sector led activities in volume terms, trading 182.544 million shares valued at N2.112 billion in 1896 deals. Banking sub sector was the most active in the sector with account of 127.417 million shares worth N1.895 billion in 1166 deals. GTBank was the toast of investors in the sub sector accounting for 69.705 million shares valued at N1.468 billion in 265 deals. 

   Access Bank sold 26.083 million shares valued at N135.951 million in 160 deals. Other Financial Institutions followed in the sector with a total of 46.974 million shares worth N210.743 million in 629 deals. Custodian and Allied Insurance was the investors delight in the sub sector accounting for 20.622 million shares cost N80.649 million in 21 deals.