NSE Market Cap Sheds N59b As Forte Oil Tops Losers’ Chart

NSE Floor

By Modupe Gbadeyanka

The bullish trend recorded on the Nigerian Stock Exchange (NSE) since the beginning of this week slumped further today after yesterday’s initial loss.

The all-share index, which fell by 0.03 percent on Wednesday, depreciated further on Thursday by 0.62 percent. The ASI finished at 27,854.78 basis points today after it closed at 28,027.23 basis points the previous day with a loss of 172.45 basis points.

The market capitalisation, which ended at N9.626 trillion yesterday, closed at N9.567 trillion today, recording a loss of N59.236 billion. On Wednesday, the market lost N2.431 billion.

Forte Oil fell by N7.69k today to lead the losers’ chart, closing at N152 per share.

7up took the second position with a loss of N3.50k to end at N154.50k per share, while WAPCO lost N1.21k to finish at N45.60k per share.

GTBank and PZ wrapped up the top five losers chart on Thursday, depreciating by N1.14k and 64k respectively to close at N22.86k per share and N18 per share.

On the other end, Nigerian Breweries topped the gainers’ table, closing at N149.20k per share after it grew by N1.22k, while Mobil ended at N186 per share after appreciating by N1.

Guinness gained 32k to finish at N80.6k per share, Dangote Sugar added by 18k to close at N6.50k per share and NAHCO chalked up 13k to finish at N3.30k.

Market activity measured by volume showed 380.754 million units of shares traded in 2.954 deals worth N1.833 billion.

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

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