NSE reopens on downward note, market capitalisation dips by N32bn

Equity transactions on the Nigerian Stock Exchange (NSE) resumed for the week on Monday on a negative note  as major blue chips continue to drop price.
The market capitalisation shed N32 billion or 0.31 per cent to close lower at N11.847 trillion against N11.879 trillion posted on Friday.
Also, the All-Share Index, which opened at 2,540.17 lost 100 points or 0.31 per cent to close lower at 32,440.17 amid price losses.
An analysis of price movement indicated that Okomu Oi led the price  losers’ table with a loss N6.9 to close at N70.1 per share.
Nigerian Breweries trailed with a loss of N3 to close at N90, while Forte Oil dropped N1.45 to close at N20.05 per share.
CAP declined by 1.15 to close at N27.2, while UBN dipped by 55k to close at N5.25 per share.
Conversely, Unilever led the price gainers’ table, gaining N2 to close at N45 per share.
GTBank came second with a gain of 55k to close at N35.25, while Zenith Bank appreciated by 2k to close at N21 per share.
PZ Cussons also lost 15k to close at N13.5, while UBA decreased by 1k to close at N8.1 per share.
Similarly, the volume of traded shares decreased by 63.59 per cent with 190.568 million shares worth N3.31 billion transacted by investors in 2,942 deals.
This was in contrast to the 523.444 million shares worth N3.59 billion exchanged in 2,778 deals on Friday.
Access Bank emerged the investors’ delight with 46.154 million shares valued at N22.41 million.
FBN Holdings traded 18.604 million shares valued at N1.07 billion, while Transcorp followed with 16.67 million shares worth N897.18 million.
Dangote Cement sold 12.70 million shares valued at N279.11 million, while Zenith Bank trailed with 10.01 million shares worth N388.71 million.