NSE: Market capitalisation sheds N45 billion as bank stocks extend loss | Ripples Nigeria
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NSE: Market capitalisation sheds N45 billion as bank stocks extend loss



The equity value of the Nigerian Stock Exchange (NSE) fell further on Tuesday as the market capitalisation depreciated by N44.867 billion by reason of continued sell pressure on bank stocks.

Prominent among stocks in this category were GTB, Zenith and Access, which similarly accounted for the drop by 2.80% to 270.59 basis points of the Banking Index, the worst performing index of the 5 sectorial indicators assessed.

A negative market breadth ended trade as 17 losers emerged against 8 losers.

The All Share Index (ASI) dipped by 0.36% to 24,114.59 basis points while market capitalisation edged lower to N12.580 trillion.

Year to date, the index is down by 10.16%.


Unilever led gainers, appreciating by 9.64% to close at N13.65. Chams added up 4.55% to end today’s trade at N0.23. Regal Insurance advanced by 4.55% to N0.23. Japaul rose to N0.25, notching up 4.17% in the process. Jaiz Bank completed the top 5, climbing up by 3.70% to N0.56.

READ ALSO: NSE: Bear run continues amid losses in bank, oil & gas stocks


Conoil topped the losers’ chart today, declining by 10.58% to close at N16.90. Arbico shed 9.94% to end today’s trade at N1.54. GSK fell to N4.35, losing 9.38%. ABC Transport slumped to N0.50, recording 9.09% depreciation. C&I Leasing closed at N4, going down by 4.76%.


208.203 million shares valued at N1.059 billion were traded today in 4,174 deals.

Sterling Bank was the most active stock with 78.917 million of its stocks worth N98.648 million traded in 439 deals. 15.777 million units of UBA shares priced at N96.029 million exchanged hands in 256 transactions. Japaul had 12.793 million shares valued at N3.216 million traded in 50 deals. FBN Holdings traded 10.933 million shares estimated at N56.004 million in 213 transactions. Zenith Bank traded 1167.105 million shares valued at N6.434 million in 622 deals.

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