Transactions on Nigerian Stock Exchange (NSE) closed on a negative note extending losses from the previous session, as virtually all the highly capitalised stocks depreciated in price, resulting in a further slide in market capitalisation by N234 Billion.
Specifically, at the close of transactions yesterday, market capitalisation dropped by N234 Billion or 1.6 per cent from N15.3254 Trillion recorded on Wednesday to N15.091 Trillion. The All-share index also dipped by 654.14 points or 0.6 per cent from 42,839.52 to 42,185.38 points.
39 stocks constituted the losers’ chart, as Seplat emerged the day’s highest price loser with N17.50 kobo to close at N767.50 per share while Mobil followed with N7.40 kobo to close at N176.30 per share.
Unilever lost N4.90 kobo to close at N52.90 per share. Conoil depreciated by N1.75 kobo to close at N33.45 per share. Guaranty Trust Bank shed N1.65 kobo to close at N45.65 per share.
Zenith Bank lost 1.15 kobo to close at N28.75 per share. Cement Company of Northern Nigeria depreciated by 0.95 kobo to close at N18.25 per share. Access Bank shed 55 kobo to close at N11.80 per share. Dangote flour also dropped 40 kobo to close at N16.00 per share.
Nestle led 14 others on the gainers chart with 15.00 kobo to close at N1395 per share while Nigerian Breweries followed with 2.10 kobo to close at N133.00 per share.
Dangote Sugar added 0.80 kobo to close at N22.00 per share. Stanbic IBTC gained 0.65 kobo to close at N49.80 per share. NPF Microfinance Bank garnered 0.18 kobo to close at N2.02 per share.
Further breakdown of yesterday’s trading showed that Zenith Bank was Investors’ delight, as Investors exchanged 66 Million shares worth N1.9 Billion while FBN holdings followed with 48 Million units valued at N544 Million.
REGALINS traded 41 Million units valued at N11 Million. Fidelity Bank accounted for 32 Million shares worth N83 Million. United Bank for Africa exchanged 27 Million units worth N318 Million.
In all, Investors exchanged 404 Million shares worth at N6 Billion in 5,403 deals lower than 373.52 Million shares valued at N6.85 Billion achieved in 5,220 deals on Wednesday 14th March.
https://guardian.ng/business-services/nses-indices-sustain-sliding-profile-down-by-n234-billion/
