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NSE Market Capitalisation Loses N49b


Trading on the floor of the Nigerian Stock Exchange (NSE) on Thursday, August 11, 2016 ended on a bad note.

The market capitalisation of the Nigerian equities market shed N49 billion, in spite of the 25k interim dividend announced by Zenith Bank for the half-year ended June 30.

The market capitalisation lost N49 billion or 0.51 per cent, to close at N9.369 trillion, as against the N9.418 trillion recorded on Wednesday.

Also, the All-Share Index which opened at 27,421.83 dropped 140.88 points or 0.51 per cent to close at 27,280.95, amid loses by some blue chips.

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The News Agency of Nigeria (NAN) reports that 7UP led the losers’ pack, having lost N5.26 to close at N102.60 per share.

Total came second with a loss of N5.26 to close at N235, while CAP dipped N1.67 to close at N31.73 per share.

Lafarge Africa dropped N1.30 to close at N50.20 and Nigerian Breweries lost N1.03 to close at N131.92 per share.

On the other hand, Forte Oil recorded the highest gain to lead the gainers’ table, appreciating by N2.74 to close at N169.50 per share.

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International Breweries improved by N1.12 to close at N20, while Guinness garnered 75k to close at N95.75 per share.

Stanbic IBTC gained 40k to close at N13.90 and Dangote Flour grew by 17k to close at N4.34 per share.

Zenith Bank was the most-traded equity in volume terms, accounting for 32.29 million valued at N652.63 million.

GT Bank trailed with a turnover of 39.21 million shares worth N962.77 million, while Access Bank sold 37.35 million shares valued at N208.62 million.

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Wapic Insurance accounted for 33.25 million shares worth N17.33 million and Diamond exchanged 28.19 million shares valued at N33.91 million.

In all, a total of 243.61 million shares worth N2.56 million were transacted by investors in 3,647 deals.

NAN reports that this is in contrast with a turnover of 391.37 million shares valued at N3.39 billion, achieved in 3,103 deals on Wednesday.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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