Market Watch: capitalisation drops by N59 billion

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Weekly transactions on the Nigerian Stock Exchange (NSE) opened on a bearish note on Monday with the market capitalisation dropping by N59 billion due to price losses.

The News Agency of Nigeria (NAN) reports that the market capitalisation declined by 0.49 per cent to close at N11.910 trillion against the N11.969 trillion achieved on Friday.

Similarly, the NSE All-Share Index, which opened at 37,461.94, lost 183.7 basis points or 0.49 per cent to close at 37,278.34.

NAN reports that Nigerian Breweries recorded the highest price loss of N2.95 to close at N167.05 per share.

It was trailed by Cadbury with a loss of N2.78 to close at N53.72 per share.

CAP and Okomuoil lost N1.99 each to close at N47 and N44 per share, respectively, while PZ Cussons dipped 50k to close at N38.49.

Conversely, Larfage WAPCO topped the gainers’ chart, appreciating by N2.50 to close at N101 per share.

Guinness gained N2 to close at N240, while Ashaka Cement improved by 33k to close at N21.50 per share.

Portland Paints gained 24k to close at N5.24, while Cement Company of Northern Nigeria rose by 24k to close at N9.95 kobo.

Wapic Insurance emerged the most traded equity as investors staked N31.25 million on 35.92 million shares.

Ecobank Transnational Incorporated (ETI) followed with 29.38 million shares worth N405.58 million, while Transcorp accounted for 28.71 million shares valued N52.35 million.

Unity Bank traded17.26 million shares worth N9.04 million while Fidelity Bank also traded 14.36 million shares valued at N38.90 million.

In all, investors exchanged 241.39 million shares worth N2.63 billion in 4,066 deals against the 228.99 million shares valued at N2.75 billion traded in 4,630 deals on Friday

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