NSE market capitalisation loses N38bn in bearish trading

Transactions on the Nigerian Stock Exchange (NSE) declined further on Friday as the market indicators dropped by 0.29 per cent.

The News Agency of Nigeria (NAN) reports that due to the depreciation, the market capitalisation lost N38 billion to close at N12.791 trillion from the N12.829 trillion achieved on Thursday.

The All-Share Index lost 113.76 basis points or 0.29 per cent to close at 38,898.14 against the 39,011.90 posted on Thursday.

An analysis of the price movement chart showed that CAP recorded the highest price loss of N1.74 to close at N40.26 per share.

Okomu Oil came second with N1.30 to close at N35.03, while Zenith lost N1.15 to close at N22.35 per share.

Access Bank depreciated by 43k to close at N8.44, while Red Star Express lost 22k to close at N4.25 per share.

Conversely, PZ Cussons led the gainers’ table with N1 close at N37 per share.

Seplat trailed with a gain of 99k close at N598, while Flour Mill grew by 65k to close at N68 per share.

Stanbic IBTC rose by 25k to close at N23, while Livestock rose by 15k to close at N3.30 per share.

The financial services sector remained the toast of investors as Skye Bank emerged the most traded equity with 89.79 million shares worth N327.13 million.

It was followed by FBN Holdings which exchanged 26.84 million shares valued at N359.46 million, while Resort Savings and Loans sold 20 million shares worth N10 million.

Fidelity Bank accounted for 16.94 million shares valued at N32.55 million, while Zenith Bank transacted 14.45 million shares worth N332.53 million.

In all, investors staked N2.61 billion on 284.19 million shares in 5,665 deals against the 1.05 billion shares worth N15 billion traded in 4,543 deals on Thursday. (NAN)