NSE market capitalisation loses N104bn

Trading activities reversed on the Nigerian Stock Exchange (NSE) on Tuesday with major blue chips recording huge price depreciation led by Nestle, following profit taking.
Nestle dropped by N40.50 per share to close at N1,200 per share.
It was trailed by Mobil Oil with a loss of N8.15 to close at N157.85 and Dangote Cement declined by N3.98 to close at 220 per share.
Okomu Oil Palm depreciated by N1.37 to close at N65, while Nigerian Breweries was down by 98k to close at N162.02 per share.
Consequently, the All-Share Index lost 301.66 points to close at 36,669.61 in contrast with 36,971.27 points achieved on Monday.
In the same vein, the market capitalisation shed N104 billion or 0.82 per cent to close at N12.622 trillion from N12.726 trillion recorded on Monday.
Conversely, International Breweries led the gainers’ table, gaining N2.42 to close at N44.31 per share.
Guinness Nigeria followef with a gain of 75k to close at N100.75 and UAC increased by 45k to close at N16.95 per share.
Dangote Sugar Refinery appreciated by 26k to close at N14.16, while Stanbic IBTC grew by 20k to close at N43.20 per share.
Also, the volume of shares traded closed lower as investors staked N4.74 billion shares on 211.87 million shares exchanged in 3,890 deals.
The volume was against a turnover of 214.96 million shares valued at N2.73 billion transacted in 4,262 deals on Monday.
Banking stocks dominated trading on NSE, with Fidelity Bank emerging the toast of investors, exchanging 24.82 million shares worth N36.91 million.
Zenith International Bank came second with an exchange of 21.99 million shares valued at N580.88 million and Guaranty Trust Bank traded 20.07 million shares worth N841.92 million.
Access Bank exchanged 19.95 million shares valued At N193.73 million, while United Bank for Africa sold 24.65 million shares wortj N134.91 million.