NSE: Market capitalisation falls by N16bn as Tuesday trade ends on a bearish note

Trading on the floor of the Nigerian Stock Exchange (NSE) closed on a bearish note Tuesday, a clear departure from the positive note on which yesterday’s trade ended. The All Share Index (ASI) shed 0.13% to close at 26,660.44 basis point. Market capitalisation fell by N16 billion, closing at N12.868 trillion. Year to date, the index is down by 15.18%.

TOP 5 GAINERS

Presco took the prime spot on the gainers chart, rising to N47.5, indicating a 9.20% appreciation. Guinness inched up by 9.88% to end the day at N35.6. UBA climbed up to N7.2, appreciating by 2.86% in the process. Access Bank equally recorded marginal gain, increasing by 2.04% to close at N10. UCAP closed trading at N2.3, representing 4.55% rise.

TOP 5 LOSERS

Dangote Cement topped the rank of losers today, plunging by 1.41%% to close at N140. NASCON followed with 5.36% loss, closing at N13.25. International Breweries ended trading at N9.5, having depreciated by 5.94%. UPDC Real Estate Investment Trust fell by 8.99% to end the day at N4.05. WAPCO completed the top 5 losers, crashing by 2.11% to close at N13.9.

TOP 5 TRADES

Altogether, 331.916 million shares were traded at the Monday trading section in 3,358 deals. The value of the transactions was N4.781 billion.

Access Bank topped the activity chart with 106.851 million shares worth N1.069 billion exchanging hands in 312 deals. GTB came second with 50.118 million shares valued at N1.480 billion traded in 138 deals. Zenith Bank traded 46.635 million shares worth N873.558 million in 427 transactions. Transcorp recorded trades estimated at N23.526 million on 24.080 million shares in 108 deals. FCMB completed the top 5 companies by trade volume with 20.554 million shares valued at N37.597 million in 106 deals.

NEW DEVELOPMENTS

Trans-Nationwide Express Plc

Trans-Nationwide Express Plc announced the confirmation of the appointment of Mr. Theodore Chikelu as the new Managing Director/CEO of the company. His appointment took effect from 12 December 2019.

Mr Chikelu is a Bachelor’s degree holder in Geography from University of Nsukka (1987) and a Master’s degree holder in Public Administration from the same university (1991). He worked briefly in the civil service with the National Directorate of Employment, then the oil servicing industry before moving to aviation with a focus on regional commercial expansion/cargo and courier development in more than six Nigerian airlines including Bellview Airlines, Aero Contractors of Nigeria and Arik Airlines.

He joined Trans-Nationwide Express Plc in October 2018 as the Chief Operating Officer and assumed the position of the Acting CEO in December 2018.

Seplat Petroleum Development Company Plc

Seplat Petroleum informed the Exchange today of the Court Order sanctioning the Scheme of Arrangement enabling Seplat Petroleum to acquire the entire issued and to be issued ordinary share capital of Eland Oil and Gas Plc. According to the statement, “the Scheme has now become Effective and the entire issued and to be issued ordinary share capital of Eland is wholly owned by Seplat.”

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