Sallah celebration: Market capitalisation sheds N57b

Ahead of Sallah celebration, crucial market indicators of the Nigerian Stock Exchange (NSE) on Friday declined further by 0.43 per cent due to profit taking.

It was reported that the market capitalisation, which opened at N13.364 trillion shed N57 billion or 0.43 per cent to close at N13.307 trillion.

Similarly, the All-Share Index lost 118.11 points or 0.43 per cent to close at 27,306.81 compared with 27,424.92 achieved on Thursday.

Zenith Bank recorded the highest loss to lead the losers’ table, declining by 45k to close at N16.35 per share.

Guaranty Trust Bank trailed with a loss of 40k to close at N26.50, while United Bank for Africa depreciated by 25k to close at N5.50 per share.

UACN was down by 25k to close at N5.50, while Dangote Sugar Refinery dropped by 20k to close at N9.90 per share.

Conversely, MTN Nigeria Communications led the gainers’ table, growing by N1.45 to close at N131 per share.

Lafarge Africa followed with a gain of 65k to close at N15, while Custodian and Allied Insurance gained 50k to close N6 per share.

Forte Oil garnered 20k to close at N17, while C & I Leasing appreciated by 15k to close at N6.20 per share.

Also, the volume of shares transacted closed lower by 21.04 per cent as investors bought and sold 220.80 million shares worth N4.48 million in 2,702 deals.

This was against a turnover of 279.63 million shares valued at N2.68 billion achieved in 3,498 deals.

The banking sector dominated trading activities with Guaranty Trust Bank the toast of investors with an exchange of 129.24 million shares worth N3.48 billion.

Zenith Bank Plc followed with an account of 34.99 million shares valued at N577.85 million, while Transcorp traded 10.20 million shares worth N8.86 million.

United Bank for Africa sold 8.05 million shares valued at N45.13 million, while Sterling Bank exchanged 4.46 million shares worth N9.77 million.

It was also reported that the exchange will reopen for trading on Aug.14 due to public holidays declared by the Federal Government on Aug. 12 and 13 to mark Eid-el-Kabir celebrations.