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Published On: Thu, Aug 21st, 2014

NSE market capitalisation drops by N7bn on bearish trading

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Equity transactions on the Nigerian Stock Exchange (NSE) closed on Thursday on on a bearish trend with the market capitalisation depreciating by N7 billion or 0.05 per cent following price losses recorded by some major stocks.

The News Agency of Nigerian (NAN) reports that the market capitalisation closed lower at N13.791 trillion from the N13.798 trillion recorded on Wednesday.

Also, the All-Share Index, which opened at 41,789.56 points, dropped by 22.23 points to close at 41,767.33 points.

Nestle led the losers’ chart by N15.01 to close at N1079.99 per share.

Guinness and Total Oil followed depreciating by N1 each to close at N190 and N181.02 per share respectively.

GTBank lost 62k to close at N28.88, while CAP dipped by 52k to close at N39 per share.

On the other hand, 7UP led the gainers’ chart by N11.78 to close at N126.78 per share.

Glaxosmith gained N2.49 to close at N65.99, while Mobil grew by N2 to close at N177 per share.

Lafarge Wapco appreciated by N1.80 to close at N120.01, while Zenith Bank chalked up 48k to closed at N29.98 per share.

The financial services sector remained investors, delight as Access Bank emerged as the most traded stock, accounting for 20.44 million shares worth N196.97 million.

Fidelity Bank exchanged 15.23 million shares valued at N29.99 million, while FCMB sold 12.58 million shares worth N53.48 million.

Transcorp traded 10.43 million shares valued at N58.72 million, while UBA transacted 10.34 million shares worth N74.97 million.

In all, investors exchanged a total of 182.204 million shares worth N3.26 billion in 4,105 deals.

This was against the 192.114 million shares valued at N1.83 billion traded in 4,477 deals on Wednesday. (NAN)


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