Yuletide: NSE market capitalisation shed N143bn



The free fall of equities persisted on the Nigerian Stock Exchange (NSE) on Tuesday with the market capitalisation losing N143 billion in about six hours of trading.

Specifically, the market capitalisation which opened at N12.877 trillion dipped N143 billion or 1.11 per cent to close at N12.734 trillion.

Also, the All-Share Index lost 297.10 points or 1.11 per cent to close at 26,384.21 compared with 26,681.31 achieved on Monday due to price depreciation posted by 23 stocks.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle, MTN Nigeria, Dangote Cement, Arbico Plc and Union Bank of Nigeria.

Capital market analysts attributed the persistent downward trend to usual Santa Claus activities.

They noted that some investors were selling off to attend to their needs ahead of the Yuletide celebration.

Similarly, market breadth closed negative with only eight gainers against 23 losers.

DAAR Communications led the losers’ chart in percentage terms with a loss of 10 per cent to close at 36k per share.

Arbico followed with a decline of 9.95 per cent to close at N3.89 per share.

Cornerstone Insurance and Fidson Healthcare declined by 8.82 per cent each to close at 62k and N3.10 per share respectively.

Courteville Business Solutions dropped by eight per cent to close at 23k per share.

Conversely, Royal Exchange led the gainers’ chart in percentage terms with a growth of 7.41 per cent to close at 29k per share.

FCMB Group followed with a gain 3.95 per cent to close at N1.84, while Ekocorp appreciated by 3.75 per cent to close at N4.15 per share.

United Capital went up by 2.29 per cent to close at N2.23, while GlaxoSmithKline appreciated by 1.72 per cent to close at N5.80 per share.

However, the volume of shares traded rose marginally with an exchange of 196.29 million shares worth N3.55 billion traded in 3,153 deals.

This was in contrast with a total of 192.68 million shares valued at N3.55 billion transacted in 3,594 deals on Monday.

Transactions in the shares of Guaranty Trust Bank led the activity chart with 49.22 million shares worth N1.43 billion.

Access Bank followed with 21 million shares valued at N192.91 million, while Transcorp traded 14.15 million shares worth N13.82 million.

Zenith Bank sold 11.23 million shares valued at N208.38 million, while Wema Bank transacted 10.67 million shares worth N7.04 million.

Edited by: Wale Ojetimi

13 B/Haram terrorists, 23 family members surrender to troops in Borno -DHQ Malami donates N11m to Kebbi flood victims Jos airport renovation 95 per cent completed – Manager FG mulls policy on zero rating for educational websites Tourism Day: Nigeria to leverage on tourism to boost grassroots devt.- Minister Buhari’s policies yielding fruitful results – Gov Bagudu Ministry to create platform for lifting 100m Nigerians out of poverty Oil palm growers commend Buhari, CBN for empowering small holder farmers Nigerians renew call on Multichoice, others on pay as you go tariff NIHOTOUR will work with private sector for sustainable development of tourism -Kangiwa Men like Justice Karibi-Whyte, difficult to find anymore -NBA President Gov. Wike describes late Karibi-Whyte as a super hero, incorruptible jurist Inter hits two late goals to beat Fiorentina 4-3 Beaten Betis coach Pellegrini blames VAR in defeat to Real Madrid COVID-19: Nigeria cases now 58,198 with 49,722 discharged Ministry official advocates regular dog vaccination to end rabies by 2030 COAS inspects ongoing projects in Army Super Camp, Ngamdu School resumption: Expert advocates provision of clean water to check spread of infections Armed Forces College holds memorial service for 1992 Ejigbo plane crash victims Increased tariff: Previous administration created problem in power sector Scores of terrorists killed in massive airstrikes on hideouts in Borno – DHQ Wike promises early completion of 258-bed mother, child hospital in Port Harcourt Yobe IPAC agrees with LG elections postponement Brazil court postpones league game after several COVID-19 positive tests Don charges media on changing maternal health narratives FG hands over Ogoni remediation sites to NOSDRA for scientific analysis Chilean team discover match postponed after 1,500 km trip Buhari condemns attack on Gov. Zulum’s convoy, killings of security agents Edo election: We have learnt our lesson — APC Environmental: Kano Govt deploys 1,000 sanitation vanguards Christian women pray over insecurity in Jos Chelsea recover from 3 goals down to draw at West Brom Ondo 2020: No plan to collapse our structure for another party – ZLP Structure NGO tasks youths on self-development, empowers 100 with N200, 000 each FG set to address flooding as HYPPADEC takes off soon Students honour FRSC Oyo State sector commander Governors’ Forum pleads with labour unions to shelve planned strike Gov. Matawalle inaugurates planting of 10,100 trees in Zamfara Ortom condemns attack on Gov. Zulum’s convoy Shelve economic shutdown, Buhari deserves commendation – Group tells labour unions Everton win again after penalty kick controversy at Crystal Palace PRP NWC passes vote of confidence on National Exco Tennis: Second seed Pliskova hoping to be fully fit before opening match World Bank spent N90bn on community projects in 11 years – official Caligiuri leads Augsburg to stunning 2-0 win over Borussia Dortmund Manchester United earn dramatic win at Brighton with late penalty kick 100, 000 traders to benefit from “Trader money” in Kwara Pathfinder University confers professorship on Dabin, former Plateau PDP chairman COVID-19: Fayemi sympathises with Ekiti hoteliers, gives palliatives Fistula Foundation treats 37 VVF patients in free surgery campaign in Sokoto