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Market Capitalisation Drops to N10.953trn After 1.53% Loss

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By Dipo Olowookere

The 1.53 percent loss recorded by the nation’s bourse on Monday has reduced the market capitalisation to N10 trillion region.

The total value of equities on the Nigerian Stock Exchange (NSE) had closed last Friday at N11.124 trillion, but the N170 billion decline posted yesterday during the trading session reduced it to N10.954 trillion as a result of renewed profit taking by investors.

The action also brought the All-Share Index (ASI) down to 29,162.24 points from 29,616.38 points, indicating a 454.14 points loss.

Data obtained by Business Post from the NSE indicated that the market closed with 30 price fallers and price risers.

Topping the losers’ log was Dangote Cement, which suffered N3.50k loss to close for the day at N185.50k per share.

Stanbic IBTC depreciated by N3.05k to settle at N43.20k per share, while Guinness Nigeria lost N2.45k to finish at N60 per share.

GTBank fell by N1 on Monday to close at N34 per unit, while Union Bank dropped 50 kobo to finish at N6.50k per share.

At the opposite side, Mobil Oil Nigeria garnered N1 to close at N171 per share, while Eterna grew by 25 kobo to end at N4.25k per share.

Learn Africa added 11 kobo to its share value to close at N1.34k per share, Caverton gained 8 kobo to finish at N2.60k per share, while Neimeth appreciated by 5 kobo to close at 56 kobo per share.

Despite the market condition yesterday, the volume and value of shares traded by investors increased significantly by 13.63 percent and 50.56 percent respectively.

A total of 455.9 million shares worth N5.3 billion were transacted on Monday by investors as against the 401.2 million units worth N3.5 billion exchanged last Friday.

Sterling Bank dominated the activity chart, exchanging a total of 93.4 million units of its shares for N242.2 million.

GTBank sold 78.3 million equities worth N2.7 billion, while Tripple Gee exchanged 60 million shares valued at N42 million.

Zenith Bank traded 26.6 million shares worth N540.7 million, while Access Bank transacted 24.9 million for N140.1 million.

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. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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