NSE’s market capitalisation depreciates further by N9.7b

Transactions on the trading floor of the Nigerian Stock Exchange continued on a downturn trend yesterday, as virtually all the blue chip companies depreciated in price, resulting to a further decline in market capitalisation by N9.7 billion.

Specifically, at the close of trading yesterday, market capitalisation dropped by N9.7 billion, from N12.622 trillion recorded on Tuesday to N12.612 trillion. Also, the All-share index declined by 36.3 points from 36,669.61 to 36,641.52.

Yesterday, 21 stocks constituted the losers’ chart, led by Total oil plc with N7.59 kobo to close at N245.41 per share.

The volume of transactions fell by 113.239 million as investors traded 198.63 million shares worth N2.936 billion in 3542 deals, against 211 million units valued at N4.7 billion that changed hands in 3890 deals on tuesday.

Flourmills followed with 0.80 kobo to close at N29.20 per share. Access Bank lost 0.21 kobo to close at N9.50 per share. Nigerian Aviation Handling Company shed 0.21 kobo to close at N3.40 per share.

Zenith Bank depreciated by 0.14 kobo to close at N26.31 per share. TransNational Corporation also dropped 0.07 kobo to close at N0.07 per share. On the other hand, GlaxosmithKline topped the gainers’ chart with N1.10 kobo to close at N23.15 per share.

Presco followed with 0.48 kobo to close at N68.00 per share. Nigerian Breweries added 0.48 kobo to close at N162.50 per share. Ecobank TrnsNtional Incorporated appreciated by 0.38 kobo to close at N17.59 per share. Guinness added 0.22 kobo to close at N101.00 per share.

Custodian &Allied insurance garnered 0.17 kobo to close at N3.67 per share. Dangote Sugar refinewry also gained 0.09 kobo to close at N14.25 per share.

On the activity chart, Guaranty Trust Bank was the toast of investors with 37 million shares worth N1.5 billion while Sterling Bank followed with 26 million units valued at N26.8 billion.

Access Bank accounted for 20 million shares worth N198 million. Fidelity Bank exchanged 19 million units worth N29 million. Zenith Bank exchanged 13 million shares valued at N358 million.