Market capitalisation depreciates by ₦54 billion
The Nigerian Stock Exchange (NSE) yesterday saw resumed profit taking after it halted three-day gaining streaks that was buoyed by positive market sentiment.
Consequently, the overall performance measures, NSE ASI and market capitalisation, fell by 0.34 per cent.
This was due to profit taking by bargain hunters in the wake of cautious optimism that had pervaded the market following upset in the financial sector.
Therefore, the All-Share Index shed 150.14 basis points or 0.34 per cent to close at 44,343.65 index points as against 44,493.79 recorded the previous day, while market capitalisation of equities depreciated by ₦54 billion or 0.34 per cent to close lower.
Meanwhile, a turnover of 651.9 million shares in 7,091 deals was recorded in the day’s trading.
The banking sub sector of the financial services segment was the most active (measured by turnover volume) with 330.2 million shares exchanged by investors in 2,689 deals.
Volume in the sub-sector was largely driven by activities in the shares of Skye Bank Plc and Diamond Bank Plc.
Other financial institutions services sub-sector, boosted by the activities in the shares of FCMB Plc and United Capital Plc followed with a turnover of 77.3 million shares in 704 deals.
The number of gainers at the close of trading session was 23, while decliners closed at 30.
Further analysis of the day’s trading showed that Flour Mills Plc topped the gainers’ table with 10.05 per cent to close at ₦33.95 per share, while Wema Bank Plc followed with 9.70 per cent to close at ₦1.45 per share. Livestock Feeds Nigeria Plc gained 8.93 per cent to close at ₦1.22 per share.
On the flip side, Lasaco Insurance Plc led the losers’ chart with a drop of 8.70 per cent to close at 42 kobo per share. Law Union and Rock Insurance Plc followed with a loss of 8.33 per cent to close at 88 kobo per share, while Unic Insurance Plc dropped by 8 per cent to close at 46 kobo per share.
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