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Stock Market Capitalisation Slides Further by N124bn

The bear sustained its hold on the Nigerian Stock Exchange (NSE) on Tuesday with the market capitalisation downgrading further by N124 billion.

The market capitalisation dipped N124 billion or 0.90 per cent to close at N13.622 trillion against N13.746 trillion achieved on Monday.

The All-Share Index lost 341.80 points or 0.90 per cent to close at 37,605.12 compared with 37,946.92 achieved on Monday.

Some blue chips posted price depreciation with Nestle leading the laggards’ table with a loss of N65 to close at N1,510 per share.

Mobil Oil trailed with N9.90 to close at N190, while Lafarge Africa shed N1.50 to close at N39.45 per share.

Dangote Cement shed N1.30 to close at N222.80, while Cadbury depreciated by 70k to close at N12..20 per share.

On the other hand, Betaglass led the gainers’ table for the day, gaining N4.15 to close at N90.45 per share.

Unilever followed with a gain of N2.50 to close at N55, while Nigerian Breweries garnered 80k to close at N113.90 per share.

Redstar Express increased by 50k to close at N6.50, while Custodian and Allied Insurance added 38k to close at N5.50 per share.

A breakdown of the activity chart indicates that Multiverse was the most active stock for the day, trading 100 million shares worth N20 million.

Zenith International Bank came second with an account of 16.49 million shares valued at N403.28 million, while Guaranty Trust Bank traded 13.01 million shares valued at N515.96 million.

Access Bank sold 12.90 million shares worth N133.02 million, while FBN Holdings exchanged 10.81 million shares valued at N113.96 million.

In all, investors staked N2.65 billion on 257.39 million shares transacted in 3,932 deals.

This was in contrast with a total of 256.23 million shares valued at N1.86 billion achieved in 3,308 deals.