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NSE Market Capitalisation Sheds N21b As Nestle Leads Losers

NSE Floor

By Modupe Gbadeyanka

Trading on the Nigerian Stock Exchange resumed on Tuesday, October 4, 2016 on a negative note after the Independence break, with the all-share index losing 57.47 points or 0.20 percent to close at 28,277.93 against 28,335.40 it finished on Friday, when the market last traded.

It was the same story for the market capitalisation, which lost N21 billion to close at N9.712 trillion after opening at N9.733 trillion.

At the market today, a total of 198.10 million shares worth N1.32 billion were transacted in 2,806 deals.

This showed a drop compared to what was traded last Friday; 217.81 million shares valued at N2.39 billion in 2,804 deals.

Business Post correspondent reports that Access Bank emerged the most traded stock with a total of 41.09 million shares worth N225.74 million, while FCMB Group followed with 37.66 million shares valued at N40.84 million and UBA traded 23.92 million shares worth N97.49 million.

Transcorp exchanged 14.84 million shares valued at N15.33 million, while Zenith Bank accounted for 13.49 million shares worth N209.29 million.

A look at the top gainers on Tuesday showed GTBank leading the pack, adding 99k to close at N24.99 per share, while Zenith Bank followed finishing at N15.57 after gaining 36k.

Champion Breweries gained 14k to close at N2.65 per share; Oando picked 7k to close at N5.47, while GlaxoSmithKline added 5k to finish at N19.05 per share.

On the other hand, Nestle Nigeria led the losers’ table, shedding N10 to close at N815 per share, while Nigerian Breweries followed with a loss of N4.15 to close at N145.85 per share and Flour Mills dropping 82k to close at N21.10 per share.

While E-tranzact lost 29k to close at N5.69 per share, UBA fell by 19k to close at N4.01 per share.

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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