Stock market capitalisation decline by N28bn

By Providence Obuh

The declining trend on the Nigerian Stock Exchange NSE continued Tuesday, as equities value represented by the market capitalisation depreciated by N28.32 billion.

In particular, the capitalisation shed 0.34 per cent to close at N8.230 trillion from N8.258 trillion at which it opened. Another key performance indices, the All share index declined by 0.34 per cent or 88.59 bases points to close at 25,741.94 points from 25,830.53 points.

Bank PHB Plc led 24 other stocks on the losers table dropping by 4.95 per cent or N0.05 to close at N0.96 per share, Ecobank Nigeria Plc followed with a loss of N0.19 to close at N3.71 per share and Eterna Oil Plc diped by N0.24 to close at N4.71 per share.

Other share price losers include: Oceanic Bank International Plc N0.07, Union Bank Nigeria Plc N0.11, Continental Reinsurance Plc N0.05, Afribank Plc N0.06, Associated Bus Company Plc N0.03, Intercontinental Bank Plc N0.05, Wema Bank Plc N0.04, among others.

On the contrary, Custodian and Allied Product Plc led on the gainers table with 4.98 per cent or N1.47 to close at N30.96 per share, Glaxo SmithKline Consumer Plc followed with N1.25 gain to close at N28.35 per share and Berger Paints Plc garnered N0.55 to close at N11.67 per share.

Other share price gainers include: National Salt Company Nigeria Plc N0.31, Ecobank Transnational Incorporation Plc N0.20, Custodian and Allied Insurance Plc N0.13, Unilever Nigeria Plc N0.10, United Bank for Africa Plc N0.10, Fidson Healthcare Plc N0.09, Access Bank Plc N0.09, among others.

Equity trading appreciated by 55.52 per cent as a turnover of 271.27 million shares valued at N2.21 billion was recorded in 5,163 deals in contrast to the previous day’s turnover of 174.430 million shares valued at N1.80 million in 4,241 deals.