Market capitalisation on NGX drops N216bn

The market capitalisation of the Nigerian Exchange Ltd. (NGX) shed N216 billion due selloffs in BUA Cement Plc and 19 others.

The All Share Index declined by 396.35 points or 0.75 per cent, to close at 52,209.06 from 52, 605.78 posted on Tuesday.

Similarly, the overall market capitalisation value lost N216 billion to close at N28.428 trillion as against N28.644 trillion recorded on Tuesday.

However, the market breadth closed positive as 34 stocks gained relative to 20 decliners.

Ardova Plc recorded the highest price gain of 10 per cent to close at N22.00, per share.

NCR Nigeria followed with an appreciation of 9.91 per cent to close at N2.33 and Transcorp gained by 9.69 per cent to close at N2.15, per share.

Japaul Gold & Ventures rose by 9.68 per cent to close at 34k, while CWG rise by 9.43 per cent to close at N1.74, per share.

On the other hand, Caverton Offshore Support Group led the losers’ chart by 9.48 per cent to close at N1.05, per share.

SUNU Assurance followed with a decline of 9.26 per cent to close at 49k, while BUA Cement lost 8.02 per cent to close at N90, per share.

Academy Press declined 7.88 per cent to close at N1.52, while Africa Prudential shed 4.46 per cent to close at N5.35, per share.

The total volume traded dropped by 13.52 per cent to 554.31 million units, valued at N5.96 billion, and exchanged in 5,168 deals.

Transactions in the shares of Access Holdings topped the activity chart with 139.29 million shares valued at N1.47 billion.

FBN Holdings followed with 100.75 million shares worth N1.21 billion, while FCMB Group traded 80.18 million shares valued at N326.46 million.

United Bank for Africa (UBA) traded 42.94 million shares valued at N343.9 million, while Zenith Bank transacted 24.48 million shares worth N593.84 million.