Modupe Gbadeyanka
By Modupe Gbadeyanka
The market capitalisation of the Nigerian Stock Exchange (NSE) finally touched down the N13 trillion mark on Thursday, fuelled by panic selloffs witnessed at the market.
The total value of stocks on the exchange reduced by 0.62 percent or N86 billion yesterday to N13.966 trillion from N14.052 trillion. This came a day after the All-Share Index (ASI) dropped to the 26,000 region and on Thursday, it further declined by 166.14 points to 26,808.24 points from 26,974.38 points.
However, the number of stocks transacted by traders increased by 1.38 percent to 231.5 million units from 228.4 million units. Similarly, the value of shares exchanged by investors increased by 63.69 percent to N4.5 billion from N2.7 billion, while the number of deals decreased by 5.87 percent to 3,606 from 3,831.
Much of these trades were from the banking sector led by Zenith Bank, which topped the activity chart with 45.6 million shares worth N868.1 million.
Nigerian Breweries traded 39.5 million equities valued at N1.8 billion, GTBank sold 35.6 million shares worth N949.1 million, UBA exchanged 25.5 million stocks for N177.2 million, while FBN Holdings transacted 18.6 million for N99.2 million.
Business Post recorded 19 price losers and 13 price gainers yesterday, with Stanbic IBTC as the highest price decliner after losing N2.40 to close at N36.10 per share.
Flour Mills fell by N2 to close at N21 per share, Nigerian Breweries depreciated by N1 to close at N45 per share, GTBank declined by 60 kobo to close at N26.40 per share, while UAC Nigeria lost 40 kobo to finish at N8.10 per share.
Topping the risers’ log on Thursday was Ardova as its share price rose by 30 kobo to N17 per share and was followed by NAHCO, which gained 19 kobo to close at N2.89 per share.
MTN Nigeria appreciated by 10 to N112.10 per share, Union Bank also increased by 10 kobo to N7 per share, while May and Baker increased by 9 kobo to N1.96 per share.
