NSE market capitalisation loses N49bn in bearish trading

The market capitalisation of the Nigerian Stock Exchange (NSE) on Tuesday dropped by N49 billion or 0.41 per cent to close at N11.941 trillion due to profit taking.
This was against N11.99 trillion posted on Monday.
Also, the All-Share Index lost 145.68 points or 0.41 per cent to close at 35,043.44 compared with 35,189.12 achieved on Monday due to price depreciation.
A breakdown down of the price movement chart indicated that Nestle Nigeria led the losers’ table, shedding N43.85 to close at N948 per share.
Total lost N8 to close at N172 while Seplat declined by N3.50 to close at N385 per share.
Presco lost N1 to close at N25.70 and Zenith Bank dropped 70k to close at N23.20 per share.
On the other hand, Forte Oil topped the gainers’ table, improving by N7.50 to close at N215 per share.
Guinness followed with a gain of N7.34 to close at N154.34, while Nigerian Breweries increased by N2.01 to close at N172 per share.
Okomu Oil gained N1.30 to close at N27.31, while Lafarge Wapco appreciated by N1.18 to close at N94.20 per share.
The banking stocks led the activity chart with Fidelity Bank emerging as the most active in volume terms with 33.81 million shares worth N72.117 million.
FBN Holdings came second with an exchange of 27.82 million shares valued N264.06 million, while Zenith Bank traded 21.71 million shares worth N520.85 million.
GT Bank traded 18.71 million shares valued N530.71 million and UBA accounted for 18.25 million shares worth N86.78 million.
In all, a total of 248.37 million shares valued N3.66 billion were transacted by investors in 4,939 deals, representing a decrease of 27.94 per cent.
This was against the 344.68 million shares worth N4.65 billion traded in 4,956 deals on Monday.