NSE: Trading closes on negative note, market capitalisation loses N18bn

NSE market capitalisation shed N219bn
United Bank for Africa

Activities on the Nigerian Stock Exchange (NSE) reversed to the negative territory on Wednesday due to profit taking with the market capitalisation shedding N18 billion.

Our correspondent reports that the market capitalisation dipped N18 billion or 0.14 per cent to close at N11.722 trillion compared with N11.738 trillion on Tuesday.

Also, the All-Share Index shed 43.98 points or 0.14 per cent to close at 32,108.92 against 32,152.90 achieved on Tuesday.

An analysis of the price movement table shows that Eterna Oil led the losers’ table with a loss of 50k to close at N4.95 per share.

Flour Mills was down by 20k to close at N24.05, while NPF Microfinance Bank dropped by 12k to close at N1.36 per share.

Diamond Bank was down by 10k to close at 95k due to alleged rumour of merger with Access Bank, which it has denied.

Conversely, Nigerian Breweries led the gainers’ table, appreciating by 50k to close at N82.50 per share.

Cement Company of Northern followed with a gain of 10k to close at N18, while NEM Insurance also added 10k to close at N2.67 per share.

Unity Bank increased by 7k to close at 85k, while Africa Prudential Registrar gained 6k to close at N3.83 per share.

FBN Holdings was the most active stock during the day, exchanging 72.07 million shares worth N541.22 million.

Diamond Bank followed with an account of 29.60 million shares valued at N28.12 million, while Access Bank traded 22.39 million shares worth N176.85 million.

Zenith International sold 20.72 million shares valued at N497.85 million, while Guaranty Trust Bank exchanged 12.53 million shares worth N456.51 million.

In all, a total of 229.26 million shares valued at N2.49 billion was exchanged by investors in 2,726 deals.

This was against the 399.76 million shares worth N2.24 billion traded in 2,880 deals on Tuesday.