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NSE: Bourse closes bearish as market capitalisation plunges to N12.883tn

Stock market loses N1.12tn in May, records longest chain of losses in 3 years

Trading on the floor of the Nigerian Stock Exchange (NSE) closed on a gloomy note Monday, a clear departure from the positive note last week ended. The All Share Index (ASI) shed 0.60% to end the day at 26,691.09 basis point. Market capitalisation equally fell, closing at N12.883 trillion.


Okomu Oil topped the rank of losers, plunging by 5.57% to close at N50. Access Bank followed with 6.67% loss, closing at N9.8. Recall that Access Bank made our watchlist for this week, its fall resulted from frantic profit-taking activities of investors on the company’s shares today.

Ecobank Transnational Incorporated (ETI) ended trading at N7, having depreciated by 6.67%. UBA fell by 4.73% to end the day at N7.05. Caverton completed the top 5 losers ladder, crashing by 7.41% to close at N2.5.


Guinness took the prime spot on the gainers chart, rising to N31, indicating an 8.39% appreciation. Stanbic IBTC inched up by 2.63% to end the day at N39. Custodian and Allied Insurance leapt to N6, appreciating by 9.09% in the process. Dangote Sugar equally recorded marginal gain, increasing by 2.14% to close at 11.95%. UACN closed trading at N6.75, representing 2.27% rise.


Altogether, 307,961,462 shares were traded at the Monday trading section in 4,609 deals. The value of the transactions was in excess of N2.538 billion.

UACN was at the top of the activity chart with 102,546,110 shares worth N636.152 million exchanging hands in 89 deals. Zenith Bank came second with 29,544,488 shares valued at N555.839 million traded in 532 deals. UBA traded 20,806,936 shares worth N147.444 million in 363 transactions to finish third on the list. Access Bank recorded trades estimated at N195.620 million on 20,235,096 shares in 452 deals. FBN Holdings completed the top 5 companies by trading volume with 14,666,555 shares valued at N96.651 million in 384 deals.

Ronald Adamolekun

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About the author

Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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