NSE halts positive trend, market capitalisation loses N7bn

Transactions on the Nigerian Stock Exchange (NSE) on Thursday reversed the two-day positive trend, with the market capitalisation dropping by seven billion naira.

Specifically, the market capitalisation, which opened at N14.519 trillion, shed seven billion naira or 0.05 per cent to close at N14.512 trillion.

Also, the All-Share Index lost 13.59 points or 0.05 per cent to close at 27,864.84 against 27,878.43 achieved on Wednesday.

MTN Nigeria Communications topped the losers’ chart, dropping by N4 to close at N116 per share.

NEM Insurance trailed with a loss of 16k to close at N2.04, UACN was down by 15k to close at N9.35 per share.

Law Union and Rock Insurance dipped 12k to close at N1.10, Zenith Bank lost 5k to close at N19.90 per share.

On the other hand, Guaranty Trust Bank recorded the highest gain, increasing by N1.85 to close at N30.85 per share.

Flour Mills followed with a gain of 50k to close at N25, BUA Cement also added 50k to close at N35.80 per share.

United Capital increased by 26k to close at N2.86, while Learn Africa gained 11k to close at N1.24 per share.

A breakdown of the activity chart shows that Zenith Bank was the toast of investors, trading 25.41 million shares worth N502.43 million.

Flour Mills followed with an account of 25.06 million shared valued at N574.52 million, while United Capital sold 21.78 million shares worth N59.040 million.

United Bank for Africa accounted for 10.91 million shares valued at N84.53 million, while MTN Nigeria traded a total of 8.85 million share worth N792.58 million.

In all, investors sold 150.73 million shares valued at N2.78 billion exchanged in 3,198 deals.

This was against a total of 81.90 million shares worth N1.07 billion transacted in 2,414 deals on Wednesday.