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NSE: Market capitalisation sheds N38 billion in bearish day

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Profit-taking activities caused the Nigerian Stock Exchange (NSE) to post negative performances across its key market indicators at the end of Thursday’s trading, abruptly ending the tenuous recovery recorded on Wednesday. Market capitalisation closed lower at N12.832 trillion today just as the All Share Index (ASI) plunged by 0.30% to 26,584.45. However, the bourse recorded a positive market breadth today with 14 price gainers as against 11 losers. Year to date, the index is down by 15.42%.

TOP 5 GAINERS

GTB led the pack of gainers today, appreciating by 1.69% to close at N30. GSK followed, rising by 9.52% to end the day at N5.75. Marginally climbing up by 0.54%, Stanbic closed Thursday’s trade at N37.2. Fidelity Bank recorded 5.77% appreciation, which made it close at N2.20. United Capital added 3.04% to end today’s business at N2.37.

TOP 5 LOSERS

MTN topped the losers’ chart today with a closing price of N112.5, translating to 2.43% loss. UPDC Real Estate Investment Trust tumbled by 9.59% to N3.3. UACN dipped to N8.60, shedding 1.71% in the process. International Breweries lost 1.05% to close at N9.40. Access Bank completed the league of top losers, plunging by 1.01% to close the day at N9.80.

TOP 5 TRADES

A total of 304.214 million shares worth N3.149 billion exchanged hands today in 2,690 deals.

Access Bank dominated Thursday’s trade with 147.719 million of its shares worth N1.433 billion traded in 130 deals. Zenith Bank traded 27.373 million shares estimated at N506.332 million in 390 deals. 23.107 million units of FCMB’s shares exchanged hands in 109 transactions valued at N41.543 million. GTB recorded trade worth N639.851 million on 21.591 million shares in 155 deals. Fidelity Bank completed the top five stocks on the activity chart with 13.921 million shares traded in 134 deals valued at N30.304 million.

NEW DEVELOPMENTS

Ekocorp Plc informed the Exchange today of the appointment of Acting Chief Executive Officer and Chief Strategy/Business Development Officer in the persons of Dr Ademolu Owoyele and Dr Adekunle Megbuwawon respectively.

Dr Ademolu Owoyele is a medical graduate with postgraduate training and certification in Health, Safety and Environmental Management and Health Resources Management from the National Postgraduate Medical College of Nigeria. He has worked to transform some of the leading multinational diagnostics corporations among which are Lancet Laboratories and Pathcare Laboratories both from South Africa as Business Development Specialist and Business Manager respectively.

Dr Adekunle Megbuwawon is a graudate of University of Ibadan, where he obtained a Bachelor of Medicine, Bachelor of Surgery (MBBS). He holds a Postgraduate Diploma in Family Medicine (DFM) from National Postgraduate College of Nigeria. He was the immediate group head, Strategy and Commercial Services at Me Cure Healthcare Ltd. He has held strategic positions at Pharm Access Foundation, Clearline International HMO and Healthcare International HMO, where he was a transformational and resourceful leader. He is a member of the Association of Rural Surgical Practitioner of Nigeria (ARSPON).

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