Nigeria Stock Market Capitalization Falls By N57bn

Nigeria Stock Market Capitalization Falls By N57bn

The Floor of Nigerian Stock Exchange Market capitalization on the floor of the Nigerian Stock Exchange (NSE) depreciated on Wednesday by N57billion to close at N12.909trillion.

This is as the All Share Index reduced by 157.27 absolute points, a fall of 0.44 percent to close at 35,358.94 points.

The development was due to profit-taking in the shares of Flourmills Nigerian, Lafarge Africa, Unilever Nigeria, Dangote Cement, and FBN Holdings.

Overall, there were 18 gainers with 27 losers with Portland Paints and Products Nigeria topping. It gained 9.96 percent, to close at N2.98 per share.

This was followed by Regency Alliance Insurance with a profit of 9.52 percent to close at 23kobo, as Skye Bank climbed by 7.69 percent to end at 56kobo percent.

Livestock led the losers’ chart by 10 percent, to close at 54kobo per share. Standard Alliance Insurance trailed with a loss of 9.52 percent, ending at 38kobo.

Also, Lasaco Assurance lost 9.09 percent to close at 30kobo per share.

In all, there was a rise in the volume of shares traded as it increased by 1.58 percent to 345.06 million shares valued at N2.27billion.

All of these were traded in 3,261 deals.

And transactions in the shares of NEM Insurance led the activity chart with 180.1 million shares worth N540.13million.

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