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NGX: Market capitalisation down by N38bn

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The Nigerian Exchange Ltd., (NGX) closed on a downward note on Friday occasioned by loss in 20 stocks, as market capitalisation depreciated by N38 billion.

Specifically, market capitalisation of listed equities decreased by 0.15 per cent to N25.483 trillion, from N25.521 trillion recorded on Thursday.
The All Share Index (ASI) also depreciated by 70.55 points to 47,282.67 from 47,535.22 recorded on Thursday.

Investors, however, traded 599.51million shares valued N3.83billion in 3,848 deals against 239.73 million shares worth N3.891 billion traded in 4,289 deals the previous day, representing 150.07 per cent increase in volume..

Market sentiment was negative as 20 stocks depreciated in price while 13 constituted the gainers’ chart.

On the price movement chart, MRS shed 9.96 per cent to close at N12.5., Ikeja Hotel depreciated by 9.87 per cent to close at N1.37 per share.

WAPIC lost 9.43 per cent to close at 48k per share while Mutual Benefits Assurance dropped 7.41 per cent to close at 25k per share.

Also, Access Bank shed 5.77 per cent to close at N9.80 per share.

However, PZ recorded the highest gain increasing by 9.55 per cent to close at N8.60 per share.

CWG(BLS) trailed with a gain of 8.08 per cent to close at N1.07 per share.

Royal Exchange Insurance inched up by 7.14 per cent to close at N1.20 per share.

Niger Insurance gained five per cent to close at 21k per share while AIICO appreciated by 4.35 per cent to 72k per share.

Olawunmi Ashafa

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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