NSE’s market capitalisation depreciates further by N26b

EQUITY transactions on the trading floor of the Nigerian Stock Exchange yesterday continued on a downward note yesterday, following price losses suffered by major bluechip companies, as market capitalisation depreciates further by N26 billion.

Yesterday, market capitalisation of listed equities fell by 0.2 per cent to N11.914 trillion from N11.940 trillion recorded the previous day.

Also the All Share Index (ASI) dropped by 77.45 basis points to 34,965.88 points  from 35042.33 points traded on Tuesday.    A breakdown of activities showed that Forte Oil topped losers table, shedding N10.75 kobo to close at N204.25 kobo.

Nigerian Breweries followed with a loss of N4.00 to close at N168.00. Mobil Oil Nigeria Plc depreciated by N2.38 kobo to close at N160.55 kobo. Other losers of yesterday’s transactions include Nestle Nigeria Plc and Lafarge Wapco, shedding N2.00 and N1.20 kobo respectively to close at N946 and N93.00.

Conversely, ‎ Seplat Petroleum Development led the gainers chart for the day, increasing by N19.25 kobo to close at N404.25 kobo, 7UP Bottling Company Plc and Total Oil Nigeria followed with a gain of N8 each to close at N170.00 and N180.00 respectively.

Guinness Nigeria Plc and Betaglass appreciated by N7.71 kobo and N1.29 kobo respectively to close at N162.05 kobo and N28.70 kobo. ‎ The banking subsector was the most active in volume terms with 168million shares worth N1.9 billion in 1,413 deals, followed by the conglomerates with 27 million units worth N370 million in 294 deals.

The consumer goods subsector ranked third with 14 million worth N575 million in 706 deals. United Bank for Africa recorded the highest volume of activities in the banking subsector, trading 58.786 million shares worth N286.209 million in 381 deals, Ecobank Transnational Incorporated followed with 35.560 million shares worth N710.888 million in 36 deals while ‎ UBA Capital Traded 21.200 million shares cost N32.677 million in 179 deals.

GTBank exchanged 20.094 million shares valued at N568.409 million in 264 deals and Fidelity Bank traded 19.974 million shares valued at N42.882 million in 148 deals. The conglomerates was boosted by activities in the shares of TransNational Corporation with 19 million shares worth N60 million in 190 deals while UACN followed with 8million units valued at N309 million. On the whole, investors exchanged 290 million shares worth N3.7billion in 4,659deals.