Market Capitalisation Down By N161 Billion

NIGERIA-FINANCE-BANKING-STOCK-EXCHANGE

Market capitalisation on the Nigerian Stock Exchange (NSE) on Friday closed by N161 billion lower as a result of huge price losses by some blue chips.

Market capitalisation closed lower at N11.71 trillion from the N11.88 trillion achieved on Thursday, while the All-Share Index lost 499.38 points or 1.35 per cent to close at 36,464.39.

For the last trading day of the week, Unilever topped the losers’ table by N4.88 to close at N56.12 per share, followed by Total Nigeria with a loss of N4.83 to close at N166.07, while Dangote Cement dipped by N3 to close at N192 per share. Ashaka Cement dropped N2.65 to close at N23.85, while Nigerian Breweries lost N1.45 to close at N155 per share.

On the other hand, May &Baker led the gainers’ chart by 21k to close at N2.32 per share, followed by UAC Property with a gain of 14k to close at N15.14, while Neimeth gained 9k to close at N1.30 per share.

NAHCO and WAPIC Insurance appreciated by 8k each to close at N6.70 and N1 per share, respectively.

The volume of shares traded increased by140.02 per cent as 440.69 million shares worth N5.21 billion were traded in 5,600 deals.

Sterling Bank emerged the most traded equity, accounting for 100.44 million shares worth N259.72 million WHILE Zenith Bank sold a total of 53.85 million shares worth N1.10 billion, while Custodian and Allied Insurance traded 52.672 million shares valued at N83.33 million.

Investors also staked N38.59 million on 33.27 million shares of Transcorp, while GT Bank traded a total of 25.04 million shares worth N625.92 million