Stock Market capitalization down by N13bn

The market capitalisation of the Nigerian Stock Exchange (NSE) on Tuesday lost N13 billion, amid profit taking embarked by investors.

The News Agency of Nigeria (NAN) reports that the market capitalisation shed N13 billion or 0.15 per cent to close at N8.764 trillion against N8.777 trillion recorded on Monday.

In the same vein, the All-Share Index which opened trading at 25,499.38 lost 38.04 points or 0.15 per cent to close at 25,461.34.

A breakdown of the price movement chart indicated that Total led the laggards’ table with N13.45 to close at N255.58 per share.

Forte Oil came second with a loss of N8.05 to close at N74.62, while PZ dipped dropped 50k to close at N14.49 per share.

NASCON dropped 36k to close at N7.55 and UAC Property decreased by 13k to close at N2.67 per share.

Conversely, Mobil Oil led the gainers’ chart with a gain of N5 to close at N195.01 per share.

Flourmill trailed with 85k to close at N17.85 and Champion Breweries improved by 0.19k to close at N2.45 per share.

Afriprudential Registrars garnered 13k to close at N2.78, while GT Bank chalked up 6k to close at N21.06 per share.

In spite of drop in the market indices, the volume of shares traded closed higher as investors bought and sold 120.93 million shares worth N1.19 billion exchanged in 2,397 deals.

This was in contrast with a turnover of 112.44 million shares valued at N858.54 million traded by investors in 2,532 deals on Monday.

Diamond bank emerged the toast of investors with a total of 18.33 million shares valued at N16.56 million.

Access Bank accounted for 14.64 million shares worth N80.76 million and Transcrop sold 13.71 million shares valued at N9.20 million.

Skye Bank exchanged 10.12 million shares worth N5.07 million, while FBN Holdings traded 7.65 million valued at N23.06