NSE market capitalisation dips by N90bn

The market capitalisation of the Nigerian Stock Exchange (NSE) depreciated by N90 billion or 0.64 per cent on Thursday as major stocks recorded price losses. The market capitalisation closed lower at N13.900 trillion from the N13.990 trillion recorded on Wednesday. Also, the All-Share Index which opened at 42,368.99, dropped by 271.5 points to close at 42,097.49.
Dangote Cement led the losers’ chart by N3.94 to close at N230 per share. Guinness depreciated by N2.3 to close at N195, while UACN and International Breweries lost N1.4 each to close at N61 and N26.65 per share respectively. Glaxosmith also dipped by N1.09 to close at N65.01 per share. On the other hand, Forte Oil led the gainers’ chart by N7 to close at N218 per share.
7UP bottling Company gained N6.97 to close at N107, while Nigerian Breweries grew by N1.05 to close at N180.1 per share. Stanbic IBTC appreciated by 7k to close at N31.24, while Ashaka Cement chalked up 58k to closed at N31.08 per share. Access Bank emerged as the most traded stock, accounting for 48.87 million shares worth N482.46 million. UBA Bank exchanged 46.26 million shares valued at N356.27 million, while Transcorp sold 28.53 million shares worth N159.66 million.
In all, investors exchanged a total of 354.760 million shares worth N6.91 billion in 6,248 deals. This was against the 713.842 million shares valued at N6.73 billion traded in 5,830 deals the previous day. The volume of traded shares represented a decrease of 50.30 per cent .