NSE’s market capitalisation down by N31 billion

FOLLOWING price losses suffered by most blue chip companies, equity transactions on the Nigerian Stock Exchange (NSE) re-opened on a down turn yesterday, as market capitalisation plunges by N31 billion.

The All-Share Index lost 90.43 points or 0.33 per cent to close at 27,179.28 against 27,269.71 recorded on Friday.

Also, the market capitalisation, which opened at N9.375 trillion, dipped N31 billion or 0.33 per cent to close at N9.344 trillion.

On the price movement chart, Seplat topped the losers’ chart, dropping by N7.35 to close at N210 per share.

Forte Oil trailed with a loss of N6 to close at N242, while Stanbic IBTC declined by 79k to close at N16.11 per share. Okomu Oil Palm dipped 65k to close at N29 and UACN depreciated by 52k to close at N23.68 per share.

On the other hand, Guinness led the gainers’ table, gaining N2.45 to close at N127.45 per share. Lafarge Africa followed with a gain of N1.34 to close at N91.34, while Flour Mills increased by 53k to close at N21 per share.

Berger Paints grew by 49k to close at N10.34 and Grief Nigeria appreciated by 46k to close at N9.83 per share.

In spite of the drop in market indices, the volume of shares traded closed higher with an exchange of 417.84 million shares worth N2.97 billion achieved in  2,710 deals.

This was in contrast with 141.40 million shares valued N3.07 billion traded in 2,843 deals on Friday.

Champion Breweries emerged the most traded stock with 100.08 million shares worth N369.31 million transacted in nine deals.

Tiger Brands followed accounting for 63.47 million shares valued N79.98 million traded in 114 deals, while FBN Holdings traded 53.63 millions shares worth N254.65 million achieved in 238 deals.

United Bank for Africa exchanged 41.488 million shares valued at N156.418 million in 100 deals and Access Bank Plc sold 27.159 million shares worth N134.001 million in 182 deals.