NSE downward trend lingers as capitalisation drops by ₦46bn
Activities on the Nigerian Stock Exchange (NSE) on Monday maintained the downward trend with the market capitalisation shedding ₦46 billion due to profit taking by investors.
The market capitalisation lost ₦46 billion or 0.39 per cent to close at ₦11.756 trillion from the ₦11.802 trillion achieved on Friday.
The All-Shares Index, which opened at 32,327.59, also dropped 125.61 points or 0.39 per cent to close at 32,201.98 following price losses by some blue chips.
Nestle recorded the highest price loss of ₦20 to close at ₦1,350 per share.
Guinness lost ₦1.90 to close at ₦86, while Mobil Oil dipped by ₦1 to close at ₦179 per share.
GTBank lost 80k to close at ₦33.95, while Stanbic shed 75k to close at ₦41.50 per share.
Conversely, Forte Oil led the price gainers’ table, gaining ₦1.50 to close at ₦19 per share, while Access Bank followed with a gain of 30k to close at ₦8.10.
Zenith Bank appreciated by 20k to close at ₦20.25, while FlourMills added 15k to close at N19.15 per share.
Access Bank emerged the investors’ delight as its 24.01 million shares worth N288.41 million were traded in 127 deals.
GTBank followed with 23.69 million shares valued at ₦170.84 million traded in 216 deals, while Zenith Bank traded 10.32 million shares worth ₦781.12 million in 261 deals.
International Breweries had 6.91 million shares valued at ₦195.59 million traded in 13 deals, while FBN Holdings transacted 6.91 million shares worth ₦57.28 million in 200 deals.
NAN reports that the volume of shares traded closed lower as 160.67 million shares valued at ₦2.15 billion were traded in 2,935 deals.
This was in contrast to the 252.19 million shares worth ₦4.73 billion exchanged in 3,120 deals on Friday.
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