NSE’s market capitalisation slides further by N27 billion
Transactions on the floor of the Nigerian Stock Exchange NSE yesterday continued in a bearish trend, as more bluechip companies depreciated in price, resulting to a further slide in market capitalisation by N27 billion.
Specifically, the market capitalisation of listed equities fell by 0.27 per cent to N11.572 trillion from N11.599 trillion traded the previous day. Also the NSE All Shares Index declined by 78.96 basis points to 34050.92 points from 34129.88 recorded on Tuesday.
A review of the investment for the day indicated that investors bought 287.907 million share worth N3.176 billion in 4302 deals against 305.245 million shares valued at N2.84 billion exchanged hands in 4620 deals.
A breakdown of the trading activities showed that Nestle Nigeria Plc led gainers table during the day, increasing by N25.00 to close at N940.00, Mobil Nigeria Plc followed with a gain of N4.63 kobo to close at N150.03 kobo, Guinness Nigeria Plc rose by N3.72 kobo to close at N164.00. Glaxosmith appreciated by N2.67 kobo to close at N56.12 kobo while UAC of Nigeria Plc went up by N1.90 kobo to close at N41.90 kobo.
Seven UP Bottling Company Plc on the other hand topped losers chart, dropping by N8.00 to close at N170.00, Cadbury Nigeria Plc trailed with a loss of N2.10 kobo to close at N39.90 kobo while PZ Industries declined by N1.50 kobo to close at N28.50 kobo. Other companies that appreciated in price were Okomu Oil Palm and Seplat Petroleum Development which fell by N1.19 kobo and N1.10 kobo respectively to close at N26.11 and N377.00.
Further analysis showed that Transnational Corporation of Nigeria recorded highest volume of activities during the day, exchanging 85.891 million shares valued in N274.647 million in 192 deals.
Access Bank traded 29.160 million shares valued at N178.016 in 186 deals, FCMB group sold 22.864 million shares cost N75.078 million in 86 deals. United Bank for Africa exchanged 18.992 million shares valued at N96.978 million in 254 deals while Zenith International Bank traded a total of 18.487 million shares valued at N390.397 million in 335 deals.
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