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Nigerian Stock Exchange Watch: Market Capitalization Falls Beneath N 7 trillion

By Afolabi Ogunde on June 4, 2012

The All Share Index shed 0.81% in the second trading day in June sending the market capitalization of the bourse beneath N 7 trillion.

Bearish sentiments prevailed across virtually all sectors with banking retreating by -1.56%, Consumer Goods (-1.15%) and Oil & Gas (-0.5%).

Selling pressure forced the prices of bluechip stocks down. Zenith (-1.49%), UBA (-2.5%), GTBank (-1.25%), Access (-4.93%), and Nigerian Breweries (-2.87%) all retreated in today’s trading.

Across the banking sub-sector, Fidelity (+2.36%), First Bank (+0.09%), and Sterling (+3.51%) were the only participants to record share price appreciation.

Notable movers were NASCON (+4.29%), Lafarge (+4.37%), Transcorp (+4.12%) and May & Baker (+4.96%).

Over 279 million shares valued at N 2.15 billion exchanged hands.

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