NSE opens bear­ish as mar­ket cap­i­tal­i­sa­tion shots N143b

The Guardian (Nigeria) - - BUSINESS - By He­len Oji

EQ­UITY trans­ac­tions on the floor of the Nige­rian Stock Ex­change (NSE) started off the week on a down­ward note, fol­low­ing price losses recorded by most bluechip stocks, even as mar­ket cap­i­tal­i­sa­tion plunged by N143 bil­lion.

Specif­i­cally, at the close of trans­ac­tions yes­ter­day, the mar­ket cap­i­tal­i­sa­tion of listed eq­ui­ties de­pre­ci­ated by 0.9 per cent or N143 bil­lion to N14.641 tril­lion from N14.784 tril­lion recorded on Fri­day.

Also, the All-share In­dex, which mea­sures the per­for­mance of listed eq­ui­ties, slid by 395.38 points or 0.9 per cent from 40,928.70 to 40,533.32 points.

An­a­lysts at Afrin­vest Se­cu­ri­ties Lim­ited, yes­ter­day, said “the NSE mi­grated Ac­cess Bank, Wapco, Se­plat and UBA into its premium board and we be­lieve this will im­prove sen­ti­ment on these stocks.

“Fur­ther­more, we ex­pect mar­ket per­for­mance to re­main up­beat on ac­count of in­creased bar­gain hunt­ing.”

Skye Bank led the gain­ers’ chart with 10 per cent to close at 88 kobo per share, as Oando fol­lowed with a gain of 9.42 per cent to close at 755 kobo, while Jaiz Bank ap­pre­ci­ated by 8.45 per cent to close at 77 kobo per share.

Also, NEM In­sur­ance went up by five per cent to close at 252 kobo and Unilever Nige­ria rose by 4.85 per cent to close at N54 per share.

On the other hand, UAC Prop­erty topped the losers’ chart by 7.86 per cent to close at 258 kobo per share, trailed by Mo­bil Nige­ria, with a loss of five per cent to close at N190 per share, while Vitafoam Nige­ria de­clined by 4.78 per cent to close at 299 kobo per share.

Courtville Busi­ness So­lu­tion also dropped by 4.76 per cent to close at 20 kobo, while Caver­ton fol­lowed by 4.53 per cent, to close at 253 kobo per share.

How­ever, the to­tal vol­ume of traded eq­ui­ties rose by 6.42 per cent to 1.16 bil­lion, val­ued at N17.38 bil­lion, and ex­changed in 8,968 deals.

Trans­ac­tions in the shares of Guar­anty Trust Bank topped the ac­tiv­ity chart, with 37.61 mil­lion shares val­ued at N1.65 bil­lion.

Ja­paul Oil fol­lowed with 21.35 mil­lion shares worth N10.313 mil­lion, while Fidelity Bank traded 13.23 mil­lion shares val­ued at N32.57 mil­lion.

Zenith Bank traded 11.1 mil­lion shares worth N293.17 mil­lion and UBA trans­acted 10.1 mil­lion shares val­ued at N109.54 mil­lion.

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