Market capitalisation falls by N251bn

The stock market closed lower on Wednesday as 35 equities declined in price.

Consequently, the market capitalisation of the listed equities fell by N251bn or 2.17 per cent to close at N11.313tn, as against the 1.65 per cent drop it recorded on Tuesday to close at N11.564tn.

In the same vein, the Nigerian Stock Exchange All Share Index shed 2.17 per cent or 756.8 basis points to close at 34,145.79 basis points. Its year-to-date return now stands at -17.38 per cent.

The NSE 30 Index, which measures the performance of the 30 top companies on the Exchange, fell by 29.35 basis points or 1.87 per cent from 1,571.96 basis points to 1,542.61 basis points.

The other financial institutions sub-sector led the activity chart, accounting for 35 per cent of the 268.225 million shares worth N3.354bn that were traded in 4,218 deals on Wednesday.

In the sub-sector investors exchanged 93.883 million stocks valued at N603.7m in 901 deals.

Volume in the sub-sector was driven by trading in the shares of FBN Holdings Plc, FCMB Group Plc and Custodian and Allied Plc.

A total of 17 stocks recorded price appreciation, while 35 equities recorded price depreciation.

RT Briscoe Plc was the top gainer for the day. It rose by 8.97 per cent or seven kobo to close at 85 kobo per share.

Champion Breweries Plc was up by 4.97 per cent or 46 kobo to close at N9.71 per share, while Omoluabi Savings and Loans Plc gained 4.92 per cent or three kobo to close at 65 kobo per share.

Also, Wapic Insurance Plc and Cutix Plc appreciated by 4.84 per cent and 4.76 per cent to close at 65 kobo and N1.54 per share, respectively.

On the other hand, Transnational Corporation of Nigeria Plc led the losers, shedding 5.23 per cent or 22 kobo to close at N3.99 per share.

Oando Plc was down by 5.17 per cent or N1.19 to close at N21.81 per share; followed by UBA Capital Plc, which fell by five per cent or nine kobo to close at N1.71 per share.

Also down where Dangote Cement Plc and Julius Berger Nigeria Plc. They shed five per cent each to close at N185.20 and N63.84 per share, respectively.


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