Market capitalisation falls by N48bn

Equity trading activities on the Nigerian Stock Exchange witnessed weak bargain on Friday, with major indicators losing marginally.

The market capitalisation of the listed shares fell by 0.4 per cent or N48bn from N11.544tn to close at N11.496tn on Friday.

Similarly, the NSE’s All-Share Index, dropped by 0.4 per cent or 151.85 basis points from 36,400.38 points Thursday’s close to 36,248.53 points.

The NSE-30 Index was down by 0.6 per cent to close at 1,689.43 basis points, from 1,699.92 recorded the previous day.

 The consumer goods index dropped by 1.08 per cent to close at 1,020.97 basis points, while the banking index lost 0.6 per cent or 2.61 basis points to close at 389.27 points.

 The banking sub-sector maintained its lead on the activity chart, accounting for 30.78 per cent of total turnover traded.

In the sub-sector, 58.677 million shares, valued at N668m were exchanged by investors in 1,416 transactions.

Trading in the shares of Access Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa drove volume in the sub-sector.

A total of 25 stocks recorded price appreciation, while 31 stocks recorded price depreciation.

Prestige Assurance Company Plc led the price gainers’ chart, rising by 10 per cent or six kobo to close at 66 kobo per share. Jos International Breweries Plc followed closely on the chart, rising by 9.74 per cent or 26 kobo to close at N2.93 per share.

Vono Plc and Livestock Feeds Plc gained 8.99 per cent and 6.73 per cent to close at 97 kobo and N4.28 per share respectively, while Presco Plc and Fidelity Bank Plc added 6.49 per cent and 6.13 per cent to close at N37.39 and N2.77 per share in that order.

Costain (West Africa) Plc, on the other hand led the price losers’, shedding 10 per cent or 13 kobo to close at N1.17 per share.

International Energy Insurance Company Plc and DEAP Capital Management and Trust Plc shed 10 per cent and 9.92 per cent to close at N1.08 and N1.09 per share, respectively.

Evans Medical Plc and Cutix Plc fell by 9.84 per cent and 9.68 per cent to close at N3.85 and N1.68 per share in that order, followed by IPWA Plc and May and Baker Nigeria Plc, which shed 9.52 per cent and 7.66 per cent to close at 76 kobo and N2.29 per share, respectively.

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