Market capitalisation dips as most sectoral indices fall

Salamatu Ejembi, Lagos

Dealing members on the floor of the Nigerian Stock Exchange.

Deals on the floor of the Nigerian Stock Exchange, NSE, for Wednesday closed on a negative note with most market indices falling.

Only two sectoral indices appreciated. The NSE Consumer Goods Index rose by 0.9 percent to close at 595.42 basis points, while the NSE OIL/GAS Index appreciated by 0.12 percent to close at 284.28 basis points, up from 283.93 basis points.

The NSE Banking Index was down by 0.37 percent to close at 273.05, while the NSE Insurance Index fell by 0.46 percent to close at 122.47 basis points.

Similarly, the NSE Industrial Index fell by 0.95 basis points to 1,540.79 basis points, while the NSE Pension Index edged lower by 0.5 per cent to 776.80 basis points.

Market Index
NSE Alternative Securities Market Index, however, remained unchanged at 1,193.52 basis points.

The market capitalisation of the listed equities fell by N1bn or 0.001 percent to close at N8.738tn, reversing Tuesday’s gain.

Also, the Nigerian Stock Exchange All-Share Index fell by 0.001 percent or 1.89 basis points to close at 25,249.74 basis points; down from Tuesday’s close of N25,251.63 basis points.

Top gainers
Guinness Nigeria Plc topped the gainers’ table, rising by 4.59 percent or N2.85 to close at N64.88; followed by Nigerian Breweries, which retained its place as the second highest gainer, appreciated by 3.99 percent or N4.99.19 to close at N129.99 25 per share.

N.E.M Insurance company Nigeria Plc and Oando Plc were up by 2.53 percent (2 kobo) and 2.27 (11 kobo), to close at N0.81 and N4.95 per share.

Top losers
Unilever Nigeria Plc led the losers, falling by 4.98 percent or N1.61 to close at N30.69 per share, while U.A.C.N Plc was down by 4.89 percent or 0.65 kobo to close at N12.65 per share.

United Capital Plc and Continental Reinsurance Plc dipped by 4.86 percent (0.18 ) to close at 3.52 and 4.59 percent (0.05) to close at N1.04 per share.

Investors exchanged 118.456 million shares worth N1.798 billion in 2, on Tuesday; compared to the 131.161 million shares worth N2.754bn were traded in 2,764 deals on Tuesday.