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Profit taking drags NSE market capitalisation down by N46bn

By Peter Egwuatu

…Profit taking: NSE market capitalisation drops by N46bn

Activities on the Nigerian Stock Exchange (NSE) on Monday maintained the downward trend with the market capitalisation shedding N46 billion following the profit taking by investors.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

The market capitalisation lost N46 billion or 0.39 per cent to close at N11.756 trillion from the N11.802 trillion recorded 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 N20 to close at N1,350 per share. It was followed by

Guinness Nigeria Plc which lost N1.90 to close at N86 per share, while Mobil Oil dipped by N1.00 to close at N179 per share. GTBank lost 80kobo per share to close at N33.95, while Stanbic shed 75kobo per share  to close at N41.50 per share.

Conversely, Forte Oil led the price gainers’ table, gaining N1.50 per share to close at N19.00 per share, while Access Bank followed with a gain of 30 kobo per share to close at N8.10 per share.

Zenith Bank appreciated by 20kobo per share to close at N20.25, while Flour Mills added 15kobo to close at N19.15 per share. Access Bank emerged the investors’ delight as it recorded 24.01 million shares worth N288.41 million traded in 127 deals.

GTBank followed with 23.69 million shares valued at N170.84 million traded in 216 deals, while Zenith Bank traded 10.32 million shares worth N781.12 million in 261 deals.

International Breweries recorded  6.91 million shares valued at N195.59 million traded in 13 deals, followed by FBN Holdings which recorded 6.91 million shares worth N57.28 million in 200 deals.

The volume of shares traded closed lower as 160.67 million shares valued at N2.15 billion were traded in 2,935 deals. This was in contrast to the 252.19 million shares worth N4.73 billion exchanged in 3,120 deals on Friday.


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