Market loses N7bn as 18 stocks depreciate

The market capitalisation of equities listed on the Nigerian Stock Exchange fell by N7bn on Monday as 18 companies recorded price depreciation.

The NSE All-Share Index declined by 0.07 per cent to close at 27,839.93 basis points, while the market capitalisation stood at N9.563tn at the close of trading.

The NSE ASI and market capitalisation had last week appreciated by 1.02 per cent, closing at 27,858.48 basis points and N9.570tn respectively.

But the gains recorded during the three days of trading last week were pared on Monday as 7-UP Bottling Company Plc and 17 others closed lower.

7-UP Bottling Company Plc shed 4.98 per cent of N7.30 to close at N139.15 per share, while Fidson Healthcare Plc was down by 4.97 per cent or N0.08 to close at N1.53 per share.

PZ Cussons Nigeria Plc lost 4.89 per cent or N0.93 to close at N18.07 per share, while Avon Crowncaps& Containers depreciated by 4.35 per cent or N0.06 to close at N1.32.

Africa Prudential Registrars Plc shed 4.26 per cent or N0.12 to close at N2.70 per share, while May & Baker Nigeria Plc was closed at N0.93 per share, down from N0.97 on Friday.

The gains recorded by 27 stocks on Monday were not enough to prevent the market capitalisation from shedding N7bn.

The top gainers at the close of trading were ConoilPlc, Total Nigeria Plc, MRS Oil Nigeria Plc, Transnational Corporation of Nigeria Plc, Skye Bank Plc and Nigerian Aviation Handling Company Plc.

Conoil was up by 10.24 per cent or N3.26 to close at N35.10 per share, while Total gained five per cent or N12.50 to close at N262.50 per share.

MRS appreciated by 4.99 per cent or N1.83 to close at N38.48 per share, while Transcorp gained 4.81 per cent or N0.05 to close at N1.09 per share.

Skye Bank and NAHCO were up by 4.76 per cent and 4.72 per cent respectively to close at N0.66 and N3.33 per share.

On Monday, a turnover of 328.203 million shares worth N2.895bn in 3,215 deals were traded by investors on the floor of the Exchange.