NSE’s market capitalisation drops further by N38bn
Activities on the Nigerian Stock Exchange (NSE) on Tuesday remained on a negative note as the market capitalisation dropped further by N38 billion.
The market capitalization, which opened at N8.893 trillion shed N38 billion or 0.43 per cent to close at N8.855 trillion.
Also, the All-Share Index lost 108.45 points or 0.42 per cent to close at 25,745.13 compared with 25,853.58 posted on Monday.
Market analysts attributed the development to investors’ reaction to profit warning released by Ecobank Transnational Plc.
An analysis of the price movement chart indicated that Nigerian Breweries recorded the highest loss of N4 to close at N93 per share.
ETI trailed with a loss of N1.75 to close at N16.26, while Seplat dipped by N1 to close at N350 per share.
Oando also lost N1 to close at N4.82 and GT Bank shed 41k to close at N16.20 per share.
Conversely, Dangote Cement led the gainers’ table by N2 to close at N164 per share.
Conoil followed with a gain of N1.86 to close at N20.10, while Okomuoil Palm increased by N1.57 to close at N33.07 per share.
7Up appreciated by 57k to close at N154 and Stanbic IBTC grew by 55k to close at N15.30 per share.
In spite of the drop recorded by the market indices, the volume of shares traded closed higher with a turnover of 287.04 million shares valued at N2.67 billion achieved in 4,561 deals.
This is against the 174.50 million shares worth N1.41 billion transacted in 3,632 deals on Monday.
UBA drove the turnover of shares traded, accounting for 71.98 million shares valued at N269.17 million exchanged in 553 deals.
Zenith Bank followed with 31.19 million shares worth N403.55 million in 425 deals, while Transcorp sold 24.09 million shares valued at N27.64 million traded in 184 deals.
GT Bank accounted for 16.48 million shares worth N273.24 million in 460 deals and Tiger Brands exchanged 15.63 million shares valued at N47.49 million in 189 deals.
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