NSE: Market Capitalisation Falls By N2bn Due To Profit Taking

Trading closed on the floor of the Nigerian Stock Exchange (NSE) on Thursday with a negative trend as the market capitalisation dipped to N2.20 billion.

The equity capitalisation opened at N24.034 trillion and fell to N24.032 trillion on Thursday amid losses by NEM Insurance, UAC Nigeria and other blu chip companies.

Also, investors traded 321.75 million shares valued at N3.65 billion in 4,565 deals which were lower than the 266.32 million shares worth N3.82 billion traded in 4,502 deals on Wednesday.

The All-Share Index also experienced a dip by 4.08 basis points to close at 44,604.74 compared to 44,608.82 posted the previous day.

Transcorp led the gainers’ chart as its share price rose by N0.10kobo to move from N1.03 to N1.13kobo per share at the end of trading.

Consolidated Hallmark Insurance share price increased by 7.94 percent to end trading with N0.68kobo from N0.63kobo per share.

Regal Insurance shares surged by 7.14 percent to move from N0.42kobo to N0.45kobo per share, while Jaiz Bank’s share price appreciated by 6.06 percent to move from N0.66kobo to N0.70kobo per share.

Also, International Breweries gained N0.20kobo to end trading at N5.15kobo from N4.95kobo per share.

Transcorp topped the day’s trading with 104.57 million shares worth N115.22 million with Jaiz Bank trading 66.71 million valued at N45.05 million.

Mutual Benefit followed with 13.74 million shares valued at N3.75 million, while First Bank sold 12.58 million shares worth N151.30 million and GTCO traded 10.92 million valued at N277.93 million.

NEM Insurance led the losers’ table with its share price declining from N4.40kobo to N3.96kobo per share after shedding N0.44kobo in its share price.

Custodian’s share price depreciated from N7.90kobo to N7.15kobo per share after losing N0.75kobo during trading.

UACN’s share price dropped by N0.50kobo to end trading at N9.10kobo from N9.60kobo per share.

FTN Cocoa lost 5.13 percent in share price to close at N0.37kobo from N0.39kobo per share.

Japaul Gold completed the list after shedding 4.44 percent from its share price to drop from N0.45kobo to N0.43kobo per share.