Technology

Nigerian Stock Exchange market capitalisation drops by 3.55%

Activities on the Nigerian Stock Exchange, (NSE) closed on Wednesday with the market capitalisation shedding N422 billion or 3.55 per cent to close lower at N11.789 trillion against N12.211 trillion posted earlier today.

Also, the All-Share Index, which opened at 33,499.00 lost 1,206.21 points or 3.60 per cent to close at 32,292.79 amid price losses.

Key equities on the Nigerian Stock Exchange (NSE) sustained days of losses with Dangote Cement dropping N13 to close at N210 per share.

Nestle followed with N6 to close at N1,479 while Stanbic and Nigerian Breweries dropped N4 each to close at N41 and N84 per share respectively.

Also, CCNN declined by N3.05 to close at N27.85 per share.

On a positive note, Seplat led the gainers' table during the day, gaining N3.70 to close at N606.70 per share.

Forte Oil came second with a gain of 80k to close at N18.90, while GTBank appreciated by 10k to close at N32.60 per share.

UCAP also lost 6k to close at N2.80, while Law union decreased by 5K to close at 60k per share.

The volume of shares increased by 63.87 per cent with an exchange of 246.906 million shares worth N6.93 billion transacted by investors in 3,912 deals.

This was in contrast with 150.671 million shares worth N1.59 billion, exchanged in 3,678 deals on Tuesday.

Access Bank emerged the investor's delight, exchanging 46.154 million shares valued N122.41 million in 157 deals.

FBN Holdings traded 22.604 million shares valued N1.67 billion in 300 deals, while Transcorp followed with an account of 19.67 million shares worth N897.18 million in 140 deals.

Dangote Cement sold 18.70 million shares valued N279.11million in 59 deals, while Zenith Bank trailed with an account of 16.95 million shares worth N388.71 million in 401 deals.

Source: Voice of Nigeria