NSE market capitalisation drops to N8trn

Activities on the Nigerian Stock Exchange (NSE) on Tuesday sustained a negative trend with the market capitalisation dropping to N8 trillion for the first time in 2017.
The market capitalisation lost N48 billion to close at N8.972 trillion against N9.020 trillion recorded on Monday in spite of the listing of Medview shares.
Also, the All-Share Index which opened at 26, 217.18 shed 180.94 points or 0.69 per cent to close at 26, 036. 24 achieved on Monday.
A breakdown of the price movement chart indicated that Mobil Oil led the gainers’ table, gaining N5.44 to close at N270 per share.
Unilever followed with a gain of N2.10 to close at N35.50, while Lafarge Wapco gained 58k to close at N41.01 per share.
Africa Prudential Registrar increased by 13k to close at N3.16, while UACN added 9k to close at N16.50 per share.
On the other hand, Nestle recorded the highest loss, shedding N23 to close at N727 per share.
Total Nigeria trailed with a loss of N8.95 to close at N290.01, while Forte Oil lost N2.78 to close at N71.22 per share.
Nigeria Breweries dipped N2.20 to close at N139.80, while 7UP Bottling depreciated by N1.30 to close at N112.10 per share.
In spite of the drop by the market indicators, the volume of shares sold closed higher with an exchange of 205.77 million shares valued at N2.76 billion transacted in 2,914 deals.
This was in contrast with a total of 143.52 million shares worth N755.89 million traded in 2,139 deals on Monday.
FBN Holdings was the toast of investors, exchanging 32.37 million shares worth N113.25 million.
It was trailed by Unity Kapital with 23.05 million shares valued at N 11.53 million, while Transcorp traded 13.39 million shares worth N10.69 million.
AIICO Insurance traded 12.81 million shares valued at N7.69 million, while Fidelity Bank exchanged 12.22 million shares worth N11.03 million.