NSE’s indices plunge by N54 billion

Following price losses that outweighed gains, equity transactions on the Nigerian Stock Exchange (NSE) re-opened on a downturn yesterday, causing market capitalisation to depfeciate by N54 billion.

The market capitalisation which opened at N8.773 trillion lost N54 billion or 0.62 per cent to close at N8.719 trillion.

Also, the All-Share Index lost 158.02 points or 0.62 per cent to close at 25,349.07 against 25,507.09 posted on Friday.
Nestle topped the losers’ chart, dropping by N10 to close at N690 per share.

Nigerian Breweries trailed with a loss of N3.78 to close at N102.61, while Ashaka Cement dropped N2.22 to close at N20.58 per share. Lafarge Africa lost N1.51 to close at N75 while Okomu Oil shed N1.49 to close at N28.36 per share.

On the other hand, Seplat led the gainers’ table, growing by N6.05 to close at N306.05 per share.Total followed with a gain of N3.78 to close at N157.60, while Dangote Cement gained N1 to close at N172 per share.

Custodian and Allied Insurance grew by 18k to close at N3.90 and E-Tranzact increased by 13k to close at N2.80 per share. An analysis of the activity chart showed that the volume of shares traded rose by 14.85 per cent with an exchange of 242.69 million shares worth N1.65 billion achieved in 3,213 deals.

This was in contrast with 211.31 million shares valued at N1.01 billion transacted in 2,377 deals on Friday. On the activities chart, FCMB Group was the toast of investors, accounting for 48.36 million shares worth N45.02 million.

Fidelity Bank followed with 28.29 million shares valued at N37.33 million, while GT Bank traded 24.97 million worth N35.28 million. Transcorp sold 23.09 million shares valued at N23.85 million and FBN Holdings traded 15.64 million shares worth N53.85 million.