NSE market capitalisation decreases by N24bn amid profit taking

Activities at the Nigerian Stock Exchange (NSE) on Wednesday ended on a negative trend with the market capitalisation dropping by N24 billion after a day rally. The market capitalisation which opened at N10.321 trillion lost N24 billion or 0.23 per cent to close at N10.297 trillion. Also, the All-Share Index lost 70.24 points or 0.23 per cent to close at 30,042.38 compared with 30,112.62 recorded on Tuesday.
A breakdown of the price movement chart showed that Glaxosmithkline led the losers’ table during the day, shedding N1.89 to close at N36.11 per share. Cadbury trailed with a loss of N1.50 to close at N28.56, while Okomu Oil shed N1.20 to close at N22.85 per share. Forte Oil and Lafarge Africa lost N1.08 and 87k respectively to close at N218.90 and N100.63 per share each.
On the other hand, Dangote Cement led the gainers’ chart, increasing by N3 to close at N183 per share. Flour Mills Nigeria followed with a gain of 10k to close at N25.41, while Paint Company increased by 4k to close at N1 per share. Ecobank Transnational and May and Baker went up by 3k each to close at N18.70 and N1.30 per share respectively.
NAN reports that investors staked N2.55 billion on 299.70 million shares exchanged in 3,556 deals.
This was against 307.99 million shares worth N3.62 billion traded in 4,365 deals on Tuesday. UBA drove the activity chart with a total of 65.95 million shares worth N211.86 million. Access Bank traded 39.13 million shares valued N162.90 million, Skye Bank sold 30.42 million shares valued N53.93 million. GTB accounted for 27.62 million shares worth N607.93 million and Niger Insurance exchanged 25.06 million shares valued N12.53 million.