Nigerian Stock Exchange market capitalisation loses ₦120bn, amid sell pressure

Trading opened on the Nigerian Stock Exchange (NSE) for the week on Monday on a negative note with the market capitalisation shedding ₦120 billion amid profit taking.

The market capitalisation which opened at ₦13.672 trillion, lost ₦120 billion or 0.89 per cent to close at ₦13.913 trillion following price loses.

Similarly, the All-Share Index dipped 343.54 points or 0.89 per cent to close at 38,913.99 compared to 39,257.53 achieved on Friday.

An analysis of the price movement table showed that Dangote Cement recorded the highest loss to lead the losers’ table, shedding ₦4.10 to close at ₦240.90 per share.

Nigerian Breweries trailed with a loss of ₦2 to close at ₦143, while Unilever was down by ₦1.11 to close at ₦40.50 per share.

Stanbic IBTC lost ₦1 to close at ₦42, while Presco 89k to close at ₦68.41 per share.

Conversely, Nestle led the gainers’ table, growing by ₦49.92 to close at ₦1,460 per share.

Mobil Oil followed with a gain of ₦15.14 to close at ₦174.96, while Total appreciated by ₦1.99 to close at ₦230 per share.

National Salt Company Nigeria gained 89k to close at ₦18.74, while Dangote Sugar increased by 66k to close at ₦20.69 per share.

FBN Holdings was the most active, trading 61.27 million shares worth ₦553.14 million.

Zenith International Bank followed with an account of 35.32 million shares valued at ₦928.74 million, while Diamond Bank exchanged 34.08 million shares worth N 47.58 million.

Transcorp accounted for 30.33 million shares worth ₦43.51 million and Access Bank traded 29.66 million shares valued at ₦344.52 million.

In all, the volume of shares closed lower as investors bought and sold 350.59 million shares worth ₦4.91 billion exchanged in 4,884 deals.

This was against the 530.08 million shares valued at ₦5.12 billion traded in 5,066 deals on Friday.