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NSE’s market capitalisation slides further by N136bn

By on April 11, 2013

Transaction on the trading floor of the Nigerian Stock Exchange continued on a downward note yesterday, as more bluechip companies join the league of losers, resulting to a further slide in market capitalization by N136 billion..

Specifically, at the close of trading yesterday, market capitalisation fell by N136 billion or 1.24 per cent to 10.774 trillion from N10.910 trillion it closed the previous day.

Similarly, the All /Share Index ASI went down by 423.44 basis points to 33665.57 from 34089.01 recorded on Tuesday. Investors traded 573.759 million share worth N5.852 billion exchanged in 7232 deals against 408.197 million shares valued at N4.595 billion in 6915 deals the previous day.

A breakdown of the transactions showed that Lafarge Wapco led the losers table declining by N3.80 kobo to close at N83.90 kobo, trailed by Nigerian Breweries with a loss of N3.01 kobo to close at N168.00 while UACN, Nestle Nigeria Plc and Guinness Nigeria Plc recorded price depreciation of N2.92 kobo, N1.00 and N1.00 respectively to close at N56.08 kobo, N972.00 and N264.00.

Oando dropped 0.95 per cent to close at N16.05 per share. FBN Holding shed 0.90 kobo to close at N18..90 per share.

Diamond Bank shed 0.63kobo to close at N5.67, Nigerian Aviation Handling Company lost 0.56kobo to close at N5.08 per share.

Conversely, Okomu oil Palm led gainers chart, growing by N9.00 to close at N106.00, Dangote Cement followed with a gain of N1.02 kobo to close at N157.02 kobo while PZ Cussons appreciated by N0.30 kobo to close at N35.50 kobo.

Other stocks that appreciated in price during the day were Fidelity and RT Briscoe, adding N0.19 kobo and N0.16 kobo respectively to N2.90 kobo and N2. 10 kobo.

Further breakdown of the trading indicated that Access Bank Plc was the most active stock in volume terms with account of 109.528 million shares value at N936.137 million, United Bank for Africa followed, exchanging 54.698 million shares worth N360.181 million while Skye Bank came third with a total of 42.218 million shares valued at N243.306 million.

FBN Holding took fourth position, recording 41.772 million shares worth N797.989 million.