Market Capitalization loses N6.09bn as bourse drops by 0.05%

Nigerian bourse Index dropped marginally by 0.05% despite the Stock Exchange recording 21 gainers as against 7 losers at the end of trading session today.

In addition, the overall Market Capitalization size lost N6.09 billion, representing a dip of 0.05% to close at N11.32 trillion.

In summary, the Nigerian Stock Exchange index decreased by 11.68 representing a dip of 0.05% to close at 21,729.48. Consequently, the year to date loss of the NSE ASI increased to 19.05% as we rightly noted yesterday,

Specifically, share prices of TOTAL and MTN moderated by 10.00% and 2.91% respectively; hence, dragging the NSE Oil/Gas down by 1.01%.

Market activity was weak as volume and value of stocks traded tanked by 29.27 per cent and 37.25 per cent to 0.23 billion units and N2.24 billion respectively.

The advancers include CADBURY up 9.71%, UBA up 9.09%, PZ up 8.64%, ZENITHBANK up 7.31%, and WAPCO up 4.40%.

The downturn was impacted by loses recorded in large and medium capitalized stocks, amongst which are; Total down10.00%, African Prudential down 9.87%, FCMB down 3.85% and MTN Nigeria -2.91%.