NSE: Market capitalisation dips N4bn

Activities on the nation’s bourse closed on a downward trend on Tuesday, with the market capitalisation dropping by N4 billion.

Specifically, the market capitalisation lost N4 billion to close at N13.354 trillion compared with N13.358 trillion achieved on Monday.

In the same vein, the All-Share Index lost 7.63 points or 0.03 per cent to close at 25,597.96 points against 25,605.59 on Monday.

The downturn was impacted by loses recorded in large and medium capitalised stocks, amongst which are; Seplat, Red Star Express, Dangote Sugar Refinery, Oando and NPF Microfinance Bank.

Consequently, market sentiment, as measured by the market breadth closed negative with 13 gainers in relative to 15 losers.

NPF Microfinance Bank led the losers’ chart in percentage terms, losing 9.42 per cent to close at N1.25 per share.

Union Diagnostic trailed with a loss of 7.41 per cent to close at 25k, while Red Star Express dipped 6.13 per cent to close at N3.52 per share.

Nigerian Aviation Handling Company lost 6.10 per cent to close at N2, while Oando shed 5.46 per cent to close at N2.25 per share.

Conversely, Ikeja Hotel dominated the gainers’ chart in percentage terms, appreciating by 9.52 per cent to close at 92k per share.

UACN Property came second with 9.20 per cent to close at 95k, while Cornerstone Insurance rose by 6.45 per cent to close at 66k per share.

Japaul Oil rose by five per cent to close at 21k, while Lafarge Africa rose by 3.45 per cent to close at N13.50 per share.

Transactions in the shares of FBN Holdings topped the activity chart with 51.44 million shares valued at N257.45 million.

Guaranty Trust Bank followed with 46.29 million shares worth N1.16 billion, while Zenith Bank traded 18.78 million shares valued at N322.42 million.

Stanbic IBTC Holdings sold 15.95 million shares worth N629.97 million, while Access Bank transacted 14.23 million shares worth N95.78 million.

In all, the total volume of shares declined by 4.63 per cent with an exchange of 245.14 million shares valued at N3.01 billion traded in 3,597 deals.

This was in contrast with 257.03 million shares worth N3.32 billion traded in 3,567 deals on Monday.