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NSE capitalisation drops N193.47b in four days

By on August 14, 2013

Profit taking on the floor of the Nigerian Stock Exchange (NSE), continued for the fourth consecutive trading session on Monday, as both indicators closed downward with equities capitalisation shedding N71.379 billion. Tthe All-Share Index lost 225.37 basis points of 0.59 per cent to close at 37,813.42 points.

This brought cumulative loss in capitalisation within the period to N193.471 billion, while the index dropped 610.93 basis points or 1.58 per cent.

Decliners at the close of Monday’s trading was led by Forte Oil, which was ahead of 35 others, after shedding 430 kobo; followed by Presco which dropped 148 kobo; Okomu Oil Palm lost 100 kobo; Ashaka Cement shed 71 kobo; while Nigerian Breweries depreciated by 70 kobo; among others.

Breweries’ major player, Champion Breweries, however led the gainers’ table when it appreciated by 146 kobo; followed by Zenith Bank which grabbed 17 kobo; UACN Property Development Company nicked 15 kobo; Sterling Bank notched 10 kobo; while WAPIC Insurance chalked 7 kobo; among others.

However trading activities recorded a boost on Monday compared with what was recorded on Wednesday last week, when the market closed to observe a two-day public holiday declared by the Federal Government to observe the Id-El-Fitr, to observe the end of the Islamic holy month of Ramadan, when Muslims observe 30 days of fasting and abstinence.


{Daily Independent]