Trading maintains negative trend, as market capitalisation drops N55bn

The market capitalisation of the Nigerian Stock Exchange (NSE) on Tuesday dipped further by N55 billion to close lower at N10.717 trillion following price depreciation. This was against the N11.772 trillion achieved at the close of business on Monday.
Similarly, the All-Share Index lost 157.97 points or 0.50 per cent to close at 31,269.71 compared with the 31,427.68 posted on Monday.
An analysis of the price movement showed that Nigerian Breweries topped the losers’ chart with a loss of N5.50 to close at N126 per share. Con Oil trailed, having dipped N3.59 to close at N33.28, while CAP dropped N1.89 to close at N36.06 per share.
Dangote Cement shed N1 to close at N184, while Cement Company of Northern Nigeria lost 75k to close at N8.75 per share. Conversely, Nestle led the gainers’ table, gaining N14.99 to close at N865 per share. Flourmill chalked up N2.60 to close at N29.50, while 7UP grew by N1 to close at N195 per share. Forte Oil rose by 98k to close at N204.98, while UACN appreciated by 75k to close at N37 per share. The turnover of shares traded rose by 91.54 per cent with an exchange of 280.99 million shares worth N2.91 billion transacted in 3,716 deals.
NAN reports that this was in contrast to a total of 146.70 million shares valued N1.44 billion traded in 3,262 deals on Monday.
The Financial Services Sector led by UBA emerged the most-traded stock accounting for 89.64 million shares worth N36.34 million. Access Bank came second with 58.94 million shares valued N279.28 million, while Zenith Bank sold 33.80 million shares worth N562.63 million. GT Bank exchanged 15.77 million shares valued N378.58 million, while Oando traded 14.73 million shares worth N181.72 million.