• Wednesday, February 21, 2024
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NSE market capitalisation drops by N273bn

A security officer checks a man outside the Nigerian Stock Exchange in Lagos

Profit taking embarked by investors at the Nigerian Stock Exchange (NSE) continued on Monday with the All-Share Index dropping to 29,000 marks due to price depreciation.

The All-Share Index which opened at 30,705.62 lost 796.18 points or 2.59 per cent to close at 29,909.44.

Similarly, the market capitalisation dipped N273 billion or 2.59 per cent to close at N10.251 trillion against N10.524 trillion posted on Friday.

Nestle topped the losers’ chart, dropping by N16 to close at N842 per share.

It was followed by Seplat with a loss of N14.25 to close at N270.75, while Dangote Cement lost N9.02 to close at N171.48 per share.

Nigerian Breweries declined by N4.92 to close at N122.01 and Total Nigeria dipped N4 to close at N154 per share.

On the other hand, Forte Oil led the gainers’ table, growing by N4.98 to close at N219.98 per share.

Zenith Bank trailed with a gain of 37k to close at N16.45, while Transcorp increased by 12k to close at N2.69 per share.

Unity Bank rose by 3k to close at N1.80 and NEM Insurance grew by 2k to close at N0.65 per share.

The volume of shares traded increased by 151.95 per cent with 476.36 million shares worth N3.65 billion exchanged in 3,841 deals.

This was in contrast with 189.07 million shares valued N2.42 billion traded in 3,706 deals.

Access Bank was the most traded stock, exchanging 321.97 million shares worth N1.304 billion.

Transcorp followed with 24.52 million shares valued N64.20 million, while FBN Holdings sold 14.62 million shares worth N93.99 million.

Zenith Bank traded 12.86 million shares worth N210.03 million and Fidelity Bank transacted 12.66 million shares valued N16.22 million.