NSE Index Sheds 1.56% Despite 0.57% Rise in Market Capitalisation

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) recorded another huge loss on Thursday, December 14, 2017, depreciating by 1.56 percent at the close of transactions after going down by 1 percent on Wednesday.

However, the market capitalisation recorded a growth, appreciating by 0.57 percent with Year-to-Date (YtD) return standing at 41.15 percent at the close of business today.

Business Post reports that the ASI went down by 600.94 points to settle at 37,933.70 points against the previous close of 38,534.64 points, while the market capitalisation increased by N77 billion to finish at N13.497 trillion from N13.420 trillion achieved yesterday.

Today’s trading was dominated by the Financial Services sector, which transacted the highest volume of shares, exchanging a total of 218.7 million shares for N2.3 billion, and was followed by the Consumer Goods industry, which sold 31.7 million shares for N3.3 billion.

It was gathered that the volume equities traded by investors on Thursday decreased by 10.69 percent from 323.95 million to 289.30 million, while the total value of shares traded increased by 41.36 percent from N4.4 billion to N6.2 billion.

FBN Holdings was recorded the highest volume of sales, trading 40 million shares worth N357.2 million.

It was followed by FCMB, which sold 33 million shares valued at N43 million, and Zenith Bank, which exchanged 29 million shares for N729.2 million.

Fidelity Bank sold 25.5 million shares worth N60.8 million, while Diamond Bank transacted 25 million shares valued at N37.3 million.

On the price movement chart, Dangote Cement emerged the highest price loser, depreciating by N9.88k to close at N230 per share.

Flour Mills of Nigeria went down by N3.32k to finish at N30.87k per share, while Lafarge declined by N1 to settle at N44 per share.

In addition, NASCON deflated by 69k to close at N19.31k per share, and Nigerian Breweries suffered a 65k loss to end at N139 per share.

On the other hand, Seplat gained N38.74k to lead the gainers’ log, closing at N540.5k per share at the close of business.

It was trailed by Nestle, which rose by N1.55k to finish at N1464.5k per share, and Julius Berger, which appreciated by N1 to end at N28 per share.

Unilever increased by 40k to close at N40.70k per share, while GTBank went up by 10k to finish at N40 per share.

With Christmas just six trading days away, the bears are expected to hold their grip tight on the Nigerian stock market with a lot of profit-taking by investors.

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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