NSE’s market capitalisation depreciates further by N56 billion
The bears continued to strengthen its hold on the equities sector of the Nigerian Stock Exchange with price losses incurred by most blue chip companies, causing market capitalisation to depreciate further by N56 billion.
Specifically, the value of equities went down by 0.43 per cent to N12.911 trillion from N12.967 trillion recorded the previous day while the All/Shares Index dropped by 174.79 basis points to 40278.82 points from 40,453.61 point traded on Tuesday.
Further analysis of yesterday’s transactions showed that investors bought 354.886 million shares worth N5.915 billion in 5091 deals against 343.049 million shares valued at N4.366 billion exchanged on Tuesday in 5548. A breakdown of the trading indicated that
I5 companies appreciated in price, led by 7UP with 10.23 per cent to close at N82.64 per share while TransNational Express followed with 9.91 per cent to close at N2.55 per share.
UBCAP added 7.62 per cent to close at N2.40 per share. UAC-Properties garnered 5.30 per cent to close at N21.05 per share. Courtville, Wemabank, Ikeja Hotel gained 5.19,5.00 and 4.05 per cent to close at N0.81,N1.05 and N0.77 per share.
First City Monument bank added 2.63 per cent to close at N3.90 per share. Paint Company gained 2.56 per cent to close at N2.00 per share.
Mobile, added 2.46 per cent to close at N125.00 per share. Continental Reinsurance gained 0.88 per cent to close at N125.00 per share.
On the other hand, 19 stocks depreciated in price, as Japaul oil led the losers table with 6.78 per cent to close at N0.55 per share while Constain west African followed with 4.95 per cent to close at N1.93 per share. NEM dropped 4.94 per cent to close at N0.77 per share.
Mansard, Evansmedical, PZ Cussons dropped 4.80,4.79 and 4.45 per cent to close at N2.38,N2.98 and N36.31 per share.
RT Briscoe lost 4.38 per cent to close at N1.31 per share while Custodian&Allied insurance shed 3.91 per cent to close at N2.21 per share.
A breakdown of transactions on the activity chart showed that Wema Bank was the most active stocks in volume terms as it traded 65.115 million shares worth N62.891 million, GTBank followed with 34.907 million shares valued at N957.105 million while Zenith International Bank exchanged 28.993 million shares cost N606.825 million. FBN Holding traded 27.588 million shares worth N385.657 million and UBA Capital exchanged a total of 19. 932 million valued at N45.845 million.