Stock Exchange market capitalisation falls below N13tn mark

Salamatu Ejembi Lagos

Logo of the Nigerian Stock Exchange (NSE)

The downward trend on the equities market of the Nigerian Stock Exchange has extended for the third consecutive day this week with the benchmark index declining by 0.79% or 210.98 basis points to close the day at 26,598.94 basis points from 26,809.92 basis points attained on Tuesday.

Consequently, the Market Capitalisation also depreciated by 0.79% or 103 billion Naira, jumping below the 13 trillion Naira mark to close on Wednesday at 12,948 trillion Naira from previous closing of 13,051 trillion Naira on Tuesday.

After Wednesday’s trading, 591,043 million units of shares valued at N7,398 billion were traded in 2,907.00 deals as compared to yesterday’s 185,945 million units of shares worth N2,537 billion Naira that were traded in 3,083.00 deals.

Meanwhile, Market sentiment, as measured by market breadth, was negative as 12 stocks appreciated, 15 depreciated with the rest remaining the same as against Tuesday’s 12 stocks which appreciated, 14 depreciated while other stock prices remained unchanged.

CUSTODIAN INVESTMENT PLC  was the most traded stock with 348,049 million units of shares valued at N2,523 billion Naira.

LEARN AFRICA PLC topped the gainers’ chart with a previous closing price of N1.02k per share, gaining 0.10k or 9.80 percent to close at N1.12k per share.

CHAMS PLC was next, moving up from a previous closing of 0.24k per share to end the day at 0.26k per share, by 0.02k or 8.33 percent gain.

Then CORNERSTONE INSURANCE PLC followed with a 0.03k or 8.33 percent upward move from 0.36k per share attained on Tuesday to a present closing price of 0.39k per share.

Conversely however, PZ CUSSONS NIGERIA PLC depreciated from a previous closing of N7.00 per share to N6.30k per share, falling by 0.70k or 10.00 percent, therefore leading the losers’ table.

Right after is NCR (NIGERIA) PLC which fell from a closing price of N4.95k per share to N4.50k per share, losing 0.45k or 9.09 percent. While GUINNESS NIGERIA PLC fell from N32.50k per share to N30.00 per share, falling by N2.50k or 7.69 percent


Sammie Idika