Market capitalisation sheds N63bn

Equity trading activities on the floor of the Nigerian Stock Exchange closed negative on Friday to halt a two-day rally.

The market capitalisation of the listed equities shed 0.49 per cent or N63bn to close at N12.661tn, compared to an appreciation by 0.96 per cent or N121bn, which saw it close at N12.724tn on Thursday.

Similarly, the NSEs All-Share Index, dropped by 0.49 per cent or 197.68 basis points from 39,760.43 Thursdays close to 39,562.75 basis points.

The NSE-30 Index was down by 0.75 per cent to close at 1,814.93 basis points, from 1,828.70 points recorded the previous day.

A review of the sectoral indices showed that NSE Consumer Goods Index recorded the biggest sectoral loss for the day after it fell by 1.39 per cent or 15.33 basis points to close at 1,081.94 points.

In contrast, the NSE Oil and Gas Index posted the best sectoral performance after it rose by 0.35 per cent or 1.09 basis points to close at 305.04 basis points.

The banking sub-sector maintained its dominance on the activity chart, accounting for 31.18 per cent of total turnover traded.

In the sub-sector, 217.959 million shares, valued at N2.138bn were exchanged by investors in 1,415 transactions.

Volume in the sub-sector was driven by trading in the shares of Ecobank Transnational Incorporated Plc, Unity Bank Plc and United Bank for Africa.

Others that recorded high volume turnover in the sub-sector are Diamond Bank Plc and Access Bank Plc.

Original post:
Market capitalisation sheds N63bn