Leadership (Abuja)

Nigeria: Stock Market Down By N17 Billion

Equity transactions on the stock market recorded a decline yesterday, causing market capitalisation to drop by N17billion.

At the close of trading , 29 stocks depreciated in price, led by Academy Press with 10 per cent to close at N2.43 per share. DN Meyer followed with 9.86 per cent to close at N3.11 per share. t N0.96 per share.

On the other hand, 18 stocks constituted the gainer, chart, as BAGCO topped the gainer, chart with 4.87 per cent to close at N2.37 per share. RT Brisco followed with 4.73 per cent to close at N1.55 per share.

Consequently, the All-share Index of the Nigerian Stock Exchange(NSE) dropped by 55.32 points or 0.2 per cent from 26,358.73 recorded on Tuesday to 26303.41, while market capitalisation fell by N17 billion from N8,399 trillion to N8,382 trillion.

With transactions exchanged in 1,983 deals, the banking sub-sector remained the most active stock in volume terms with 103.1 million shares worth N687 million followed by the insurance sub-sector which traded 93.8 million units valued at N72 million in 120deals.

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