NSE’s market capitalisation down by N122 billion

EQUITY transactions on the trading floor of the Nigerian Stock Exchange closed on a downward note yesterday, following price losses incurred by virtually all the blue chip companies, as market capitalisation fell further by N122billion.

Specifically, at the close of transactions yesterday, the All Share Index fell by 1.17 per cent to 29870.86 points from 30225.34 traded the previous day.

Also, market capitalisation of listed equities depreciated by N122 billion to close at N10.272 trillion from N10.394 trillion traded on Tuesday.

Investors traded 439.661 shares worth N4.534 billion in 4345 deals against 938.209 million shares valued at N7.487 billion exchanged hands the previous day in 6065 deals.

A breakdown of activities in the price movement chart showed thatTotal Nigeria Plc led market activities growing by N0.99 kobo to close at N151.99 kobo, Berger paint followed with a gain of N0.43 kobo to close at N9.05 kobo, Stanbic IBTC appreciated by N0.35 kobo to close at N22.00, Vitafoam increased by N0.24 kobo to close at N6.00 while Ikeja Hotel gained N0.14 kobo to close at N3.12 kobo.

Forte Oil on the other hand topped losers chart, dropping by N12.42 kobo to close at N236.08 kobo, Seplat Product development trailed with a loss of N12.23 kobo to close at N232.46 kobo, Nigerian Breweries fell by N2.09 kobo to close at N124.50 kobo.

Other companies that depreciated in price were Lafarge Wapco and UACN dropped by N2.00 and N1.75 kobo respectively to close at N101.00 and N33.25 kobo.
Further analysis showed that Zenith International Bank Plc led the activities for the day, trading 173.614 million shares worth N2.639 billion, Skyebank Plc followed with 51.003 million shares valued at N143.731 million, United Bank for Africa sold 41.207 million shares worth N135.513 millions. Access Bank exchanged 31.488 million shares worth N157.819 million and FBNHoldings traded 22.245 million shares worth N135.321 million.