NSE market capitalisation drops by N71bn on Tuesday

Trading on the Nigerian Stock Exchange (NSE) on Tuesday ended on a downward trend as market capitalisation dropped further by N71 billion, representing 1.1 per cent. The market capitalisation, which opened with N6.417 trillion, lost N71 billion to close at N6.346 trillion. Also, the All-Share Index dropped by 227.05 points, representing 1.1 per cent to close at 20,137.50.
This was against 20,364.55 points recorded on Monday due to losses incurred by some blue chip equities. Nigerian Breweries led the losers’ chart shedding N4.80 to close at N91.30 per share. 7UP trailed with a loss of N2.10 to close at N43.90 while Guinness lost N1.61 to close at N220 per share. PZ Cussons declined by N1.30 to close at N24.70 while Conoil dipped by N1.25 to close at N24.01 per share.
On the other hand, NewGold ETF topped the gainers’ chart gaining N21 to close at N2, 737 per unit. Oando garnered N1.05 to close at N22.16, while Dangote Cement rose by 11k to close at N105.11 per share. UBA appreciated by 10k to close at N2.59 while GT Bank increased by 6k to close at N14.21 per share. The banking sub-sector was the toast of investors with 310.3 million shares worth N1.9 billion traded in 2,845 deals.
UBA was the most traded stock as investors bought and sold 99.8 million shares worth N257.8 million exchanged in 488 deals. ETI followed on the activity chart with 48.4 million shares valued N522.1 million traded in 97 deals. In all, 417.9 million shares worth N2.6 billion were exchanged by investors in 4,720 deals against 428.9 million shares valued N2.6 billion traded in 4,282 deals previously.