NSE market capitalisation shed N56bn, amid blue chip loses

Trading on the Nigerian Stock Exchange (NSE) swayed northward on Thursday with some blue chips recording price loses.

Specifically, Nestle recorded the highest loss to lead the losers’ table, dropping by N4.90 to close at N1,545 per share.

Dangote Cement trailed with N2 to close at N190, while Transcorp Hotel dipped 55k to close at N5.40 per share.

Eterna shed 40k to close at N4.40, while GT Bank dropped 30k to close at N35.40 per share.
Consequently, the All-Share Index shed 149.49 points or 0.48 per cent to close at 31,210.79 compared to 31,360.28 achieved on Wednesday.

Also, the market capitalisation which opened at N11.694 trillion lost N56 billion or 0.48 per cent to close at N11.638 trillion.

Conversely, Dangote Flour topped the gainers’ chart with a gain of 80k to close at N10.30 per share.

Ikeja Hotel came second with 17k to close at N2.30, while Sterling Bank chalked up 14k to close at N2.50 per share.

NEM Insurance rose by 12k to close at N2.50, while UBA increased by 10k to close at N7.65 per share.

Similarly, the volume of shares traded closed lower by 52.94 per cent with 177.63 million shares worth N2.56 billion achieved in 2,635 deals.

This was against the turnover of 377.49 million shares valued at N2.26 billion traded in 3,273 deals on Wednesday.

The banking stocks remained the most active with Zenith Bank accounting for 80.78 million shares worth N1.80 billion.

Sterling Bank followed with 16.80 million shares valued at N41.87 million, while FCMB Group transacted 12.13 million shares worth N 23.83 million.

GT Bank sold 6.39 million shares valued at N228.24 million, while Fidelity Bank traded 5.99 million shares worth N13.13 million.