NSE Market Capitalisation Drops By N164bn

Nigerian Stock Exchange
Nigerian Stock Exchange

Trading activities on the Nigerian Stock Exchange (NSE) for the second consecutive day maintained a downward trend with the market capitalisation losing N164 billion.

The News Agency of Nigeria reports that the market capitalisation, which opened at N10.272 trillion on Thursday, lost N164 billion or 1.59 per cent to close at N10.108 trillion.

Also, the All-Share Index lost 29,393.77 points representing 1.59 per cent to close lower at 29,393 compared with 29,870.86 attained on Wednesday following huge loss.

Analysts attributed the persistent bearish trend at the exchange to exit of foreign investors due to drop in oil price at the international market.

Analysis of the price movement chart indicated that 23 equities recorded price depreciation.

 

In all, investors staked N2.89 billion on 273.68 million shares transacted in 3,733 deals.

This was against the 439.66 million shares worth N4.53 billion transacted in 4,345 deals on Wednesday.

The Financial Service Sector sustained its leading position as the toast of investors with 178.35 million shares worth N757.95 million in 1,438 deals.

The Banking sub-sector drove activities in the sector accounting for 110.33 million shares valued at N640.52 billion achieved in 1,117 deals.

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