Easter celebrations take toll as market capitalisation sheds N52bn

Activities at the Nigerian Stock Exchange (NSE) on Tuesday closed on the downward trend for the second consecutive days due to profit taking ahead of Easter celebrations.

The News Agency of Nigeria (NAN) reports that the market capitalisation lost N52 billion or 0.59 per cent to close at N8. 815 trillion against N8.867 trillion on Monday.

Mobil oil topped the losers’ chart, dropping by N34 to close at N326 per share.

Forte Oil trailed with a loss of N1.09 to close at N44.91 and Dangote Cement declined by 60k to close at N164 per share.

Flour Mills Nigeria was down by 49k to close at N17.50, while Nigerian Breweries dipped 45k to close at N122 per share.

On the other hand, Seplat led gainers’ table for the day, increasing by N3 to close at N398 per share.

International Breweries followed with a gain of 82k to close at N17.50 and CAP gained 36k to close at N33 per share.

UACN appreciated by 16k to close at 14.96, while Ecobank Transnational Incorporated added 9k to close at N8.30 per share.

In spite of the drop posted by market indicators, the volume of shares traded appreciated by 109.91 per cent with an exchange of 402.69 million shares valued at N1.92 billion transacted in 3,459 deals.

This was against a total of 191.84 million shares worth N 584. 72 milion transacted in 2,626 deals.

Fidelity Bank was the toast of investors, accounting for 262.93 million shares worth N262.25 million.

FCMB Group followed with an exchange of 27.35 million shares valued at N31.28 million, while FBN Holdings traded 22.31 million shares worth N69.20 million.

Transnational sold 17.07 million shares valued at N12.66 million and United Bank for Africa transacted 14.28 million shares worth N75.68 million.