UBA remains toast of investors as NSE capitalization depreciates by N15bn

The United Bank for Africa, for the second consecutive day, remained the toast of investors despite the freefall of equities at the Nigerian Stock Exchange on Wednesday that saw market capitalization depreciating further by N15bn.

UBA traded 64.51 million shares worth N343.48 million. Guaranty Trust Bank came second with an account of 29.44 million shares valued at N783.69 million and Access Bank traded 24.45 million shares worth N151.49 million.

Diamond Bank exchanged 15.49 million shares valued at N14.28 million, while FCMB Group sold 11.50 million shares worth N13.70 million.

In all, a total of 198.84 million shares valued at N2.53 billion transacted in 2,306 deals compared with 153.72 million shares worth N1.50 billion achieved in 2,675 deals on Tuesday.

Guinness led the gainers’ table for the day, gaining N2.61 to close at N62.64 per share. Julius Berger followed with a gain of N1.95 to close at N41.95, while Lafarge Africa appreciated by N1.80 to close at N37.80 per share.

CAP added 19k to close at N28.20, while Custodian and Allied Insurance increased by 15k to close at N3.31 per share. Conversely, Nestle Nigeria topped the losers’ chart, dropping N10 to close at N740 per share.

Total trailed with a loss of N2.10 to close at N272.90 and Unilever shed N1.70 to close at N32.30 per share. Mobil Oil was down by 99k to close at N289, while Stanbic IBTC declined by 80k to close at N17.70 per share.

National Daily gathered that the market capitalisation shed N15 billion or 0.17 per cent to close at N8.827 trillion against N8.842 trillion achieved on Tuesday.

Also, the All-Share Index lost 44.48 points, representing 0.17 per cent to close at 25,514.09 against 25,558.57 posted on Tuesday.