NSE: Equities Maintain Slide As Market Capitalisation Fall By N84b
Trading on the floor of the Nigerian Stock Exchange (NSE) continued to dwindle Monday as more bluechip stocks depreciated in price, leading to decline in market capitalisation by N84 billion.
Monday transactions ended with the All-Share Index (ASI), shedding 174.2 points (0.65 per cent) to close at 26,681.31 points while market capitalisation lost N84 billion and closed at N12.878 trillion.
The fall was as a result of the losses recorded in medium and large capital stocks, amongst which were; Berger Paints, Cadbury Nigeria, Guaranty Trust Bank, Dangote Cement, and CI Leasing.
The market breadth was bearish as there was a disproportionate number of declining securities with five gainers against 28 losers.
Among top gainers, AXA Mansard Insurance recorded the highest price gain of 9.09 per cent to close at N1.80 per share with Cornerstone Insurance following with 7.94 per cent to close at 68 kobo, while Eterna rose by 7.14 per cent to close at N3.00, per share.
NPF Micro Finance Bank garnered 3.60 per cent to close at N1.15 per share while Fidelity Bank appreciated 0.99 per cent to close at N2.04 per share.
On the loser desk, Berger Paints led the chart with 10 per cent to close at N6.75 per share while C & I Leasing followed with 9.24 per cent to close at N5.40.
Niger Insurance lost 9.09 per cent to close at 20 kobo, per share, Cadbury Nigeria lost 8.59 per cent to close at N9.05, while DN Meyer fell 8.47 per cent to close at 54 kobo, per share.
Total volume traded also dropped by 2.21 per cent to 192.68 million shares worth N3.55 billion, traded in 3,594 deals.
The shares of Zenith Bank topped transaction chart with 24.23 million shares valued at N450.06 million.
Second in the list was UAC of Nigeria (UACN) followed with 19.62 million shares worth N159.33 million, while Dangote Cement traded 12.86 million shares valued at N1.80 million.
Similarly, FBN Holdings traded 12.25 million shares at N78.01 million, while FCMB Groups transacted 10.02 million shares worth N17.92 million.