NSE Market Cap drops N267b

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Trading on the floor of The Nigerian Stock Exchange (NSE) began the week on a negative trajectory on Tuesday when two major indicators, the All-Share Index and Market Capitalisation depreciated by 2.20 percent each.

Market capitalisation depreciated by N267.080 billion to close at N11.867 trillion as against N12.135 trillion recorded on Thursday, while the All Share Index went down by 786.33 basis points or 2.20 percent to close at 34,941.79 points as against 35,728.12 points recorded on Thursday.

At the close of trading on Tuesday, investors traded in a total of 581.771 million shares, valued at N8.313 billion in 7,587 transactions as against 1.74 billion shares, valued at N18.753 billion in 9,800 transactions recorded on Thursday with the financial services sector accounting for a total of 433.501 million shares, valued at N5.539 billion in 4,351 transactions as against 863.145 million shares, valued at N10.281 billion in 5,029 transactions recorded the previous trading day.

However, investors also bought and sold a total of 308.037 million shares valued at N4.758 billion belonging to the banking sub-sector in 2,816 transactions as against 654.247 million shares valued at N8.750 billion in 3,277 transactions recorded on Thursday.

At the close of trading activities on Monday, 20 companies made it to the gainers’ table as against 55 on Thursday, while 42 were on the laggards’ table as against 11 the previous trading day.

Food products-diversified major player, Nestle Nigeria, led the gainers’ table when it appreciated by N43.40 to close at N980.00 per share, followed by GlaxoSmithKline Consumer which grabbed 522 kobo to close at N56.26 per share, Total Nigeria gained 193 kobo to close at N56.26 per share, Chemical and Allied Products nicked 166 kobo to close at N35.66 per share, while Berger Paints added 92 kobo to close at N9.98 per share, among others.

Seplat Petroleum Development Company led 41 others on the losers’ table when it went down by N43.28 to close at N400.17 per share, followed by Forte Oil which lost 750 kobo to close  at N207.50 per share, Nigerian Breweries dropped 625 kobo to close at N160.00 per share, Guinness Nigeria depreciated by 563 kobo to close at N133.37 per share, while Mobil Nigeria suffered a setback of 500 kobo to close at N170.00 per share, among others.

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