Market Capitalisation Down By 0.13%
Tue, 03/07/2012 ? 1:53am | CHRIS UGWU Capital Markets Business
Transaction yesterday on the floor of the Nigerian Stock Exchange took a different curve, depressing in prices, just as the market capitalisation index dropped by 0.13 per cent or N9 billion.
The depreciation was majorly occasioned by massive profit taking by investors who are cashing on capital appreciation in the shares of listed companies.
Further review of the day?s transaction showed that, highly capitalised stocks comprising of 15 companies recorded price depreciation while 22 others ironically appreciated in price.
Particularly at the close of transaction, AG Leventis Plc topped the day?s losers? table with 4kobo to close at N0.78 while IPWA Plc followed with 4 kobo, to close at N0.79 per share. TRANSCORP Plc, Port Paint and NASCON Plc also lost 5 kobo, 11 kobo and 20 kobo to close at N1.03, N2.27 and N4.28 per share.
On the other hand, Oando Plc emerged the day?s highest price gainer with 67 kobo to close at N14.11 per share. Union Bank of Nigeria Plc followed, adding 18 kobo, to close at N3.91 per share.
RT Briscoe Plc, Paint Company Plc and Honeywell Plc added 10 kobo, 9 kobo and 9 kobo, to close at N2.21, N2.00 and N2.10 per share.
Consequently, market capitalisation dropped by N9 billion or 0.13 per cent, from N6.895 trillion recorded on Friday to N6.886 trillion while All-Share Index dipped by 27.9 points or 0.4 per cent, from 21,599.57 to 21,571.67
With transaction exchanged in 2,009 deals, the banking sub-sector maintained its dominance in volume terms with 130 million shares, worth N868.9 million. The insurance sub-sector trailed with 22.9 million units, worth N16.6 million while the Conglomerate sub-sector ranked third with 20 million units, worth N34.5 million in 118 deals.
In all, investors exchanged 209.8 million shares,, worth N1.634 billion in 3,497 deals.
