NSE’s market capitalisation sustains sliding profile, down by N230 billion

Equity transactions on the Nigerian Stock Exchange sustained sliding profile yesterday, as virtually all the bluechip companies depreciated in price, resulting to a further slide in market capitalization by N230 billion.

Yesterday, market capitalization of listed equities depreciated by N230 billion or 2.3 per cent from N9.900 trillion recorded on Tuesday to N9.670 trillion while the All-share index dropped by 669.35 points or 2.3 per cent from 28,807.00 to 28,137.65.

On the price movement chart , 42 stocks depreciated in price, led by PZ Cussons with 9.69 per cent to close at N23.11 per share while Northern Nigeria Flour mills followed with 9.66 per cent to close at N10.47 per share. FBN Holdings lost 7.76 per cent to close at N5.23 per share.

TransNational Corporation dropped 6.22 per cent to close at N1.96 per share. UBCAP, Nestle and LearnAfrica lost 5.00 per cent to close at N1.14, N917.69 and N0.95 per share respectively while Okomuoil shed 4.99 per cent to close at N19.60 per share.

UPL and Oando also lost 4.98 and 4.95 per cent to close at N5.73 and N9.41 per share. Other losers of yesterday’s trading include; UAC-Properties, Union Bank of Nigeria, National Salt Company of Nigeria shed 4.94,4.91 and 4.90 per cent to close at N7.50, N6.00 and N5.43 per share.

Eternaoil and CAP also dropped 4.98 and 4.88 per cent to close at N1.75 and N39.00 per share. On the other hand, Dangote Sugar Refinery emerged the day’s highest price gainer with 4.97 per cent to close at N6.34 per share while Wema Bank followed with 3.45 per cent to close at N0.90 per share. Constain West African added 3.36 per cent to close at N0.61 per share.

Vitafoam gained 2.13 per cent to close at N5.75 per share. First City Monument Bank and ABC Transport also garnered 1.92 and 1.89 per cent to close at N2.12 and N0.54 per share.

On the activity chart, the banking subsector was most active in value terms with 262 million shares worth N2.5 billion followed by the conglomerates subsector followed with 49.6 million units worth N100.2 million in 335 deals.

The insurance subsector ranked third with 13.7 million units worth N9.9 million. The banking subsector was boosted by activities in the shares of Guaranty Trust Bank with 94.7 million shares worth N1.8 million followed by Access bank with 87.3million units worth N390 million.

The conglomerates subsector was energized by activities in the shares of TransNational Corporation with N49.5million shares worth N99 million. In all, Investors exchanged 483 million shares worth N5 billion in 4,673 deals.