NSE’s market capitalisation slides by N4 billion

EQUITY transactions on the Nigerian Stock Exchange re-opened on a downward note yesterday, as most bluechip companies depreciated in price, causing market capitalisation to drop marginally by N4 billion.

Specifically, at the close of transactions yesterday, the All-Share Index lost 9.14 points or 0.04 per cent to close at 24,423.37 against 24,432.51 achieved on Friday.

Also, the market capitalisation which opened at N8.403 trillion dipped four billion naira to close at N8.399 trillion.

African Prudential topped the losers’ chart with 4.65 per cent to close at N2.46 per share. Livestock followed with 4.58 per cent to close at N1.25 per share. Cement Company of Northern Nigeria lost 4.22 per cent to close at N8.62 per share.

Neimeth dropped 4.17 per cent to close at N0.69 per share. Diamond Bank shed 3.87 per cent to close at N1.49 per share.

First City Monument Bank, Continental Reinsurance, Wema Bank dropped 2.30, 2.17 and 2.00 per cent to close at N0.85, N0.90 and N0.98 per share.

TransNational Corporation lost 1.74 per cent to close at N1.13 per share. United Bank for Africa shed 1.67 per cent to close at N2.95 per share.

United Capital lost 1.50 per cent to close at N1.31 per cent. FBN Holdings shed 1.32 per cent to close at N3.74 per share.

Conversely, Seplat led the gainers’ table, growing by N15.50 to close at N318 per share. GlaxoSmithkline gained N1.16 to close at N25.33, while Guinness garnered 85k to close at N118.85 per share.

Flour Mills improved by 60k to close at N19 and Lafarge Africa rose by 50k to close at N80.50 per share.

The volume of shares traded closed higher with a turnover of 3.45 billion shares worth N5.99 billion exchanged in 2,432 deals. This was against 172.39 million shares valued N925.39 million traded in 2,437 deals on Friday.

Tiger Brand was the toast of investors, trading 3.29 billion shares worth N4.07 billion achieved in 29 deals. Unity Kapital followed with 37.71 million valued N18.85 exchanged in one deal, while FCMB Group sold 31.26 million shares worth N26.613 million in 106 deals

Lafarge Africa traded 14.37 million shares valued N1.16 billion in 31 deals  and Zenith Bank exchanged 13.93 million  shares worth N159.61 million in 306 deals.