Market Capitalization Sheds 1% as 23 Stocks lose

The Nigerian Stock Exchange closed on a negative note on Thursday, June 12, as major market indicators declined.

The market capitalization declined by 1% or N137bn to close at N13.613tn, down from Wednesday’s close of N13.750tn

Falling by 1% or 413.9 basis points, the NSE All-Share Index closed at 41,228.65 basis points as against an increase of 0.29% the previous day.

The activity chart was led by the banking sector, which accounted for 36% of total turnover.

In the subsector, investors exchanged 122.575 million shares worth N1.231bn in 1,473 deals. The volume in the subsector was driven by trading in the shares of United Bank of Africa Plc and Access Bank Plc. Also recording high volume turnover were Skye Bank Plc, Sterling Bank Plc, Guaranty Trust Bank Plc and Zenith International Bank Plc.

Conoil Plc topped the gainers with a 10.24% orN6.13 share price appreciation. It was followed by Eterna Plc, which recorded a 10.16 or 39 kobo appreciation to close at N4.23 per share.

Also gaining were ABC Transport Company Plc and Jos International Breweries Plc which gained 5% and 4.78% to close at 84 kobo and N3.07 per share, respectively; while

Avon Crowncaps and Containers Nigeria Plc was up by 4.73% or 8kobo to close at N1.77 per share.

On the other side, Lean Africa Plc and Wapic Insurance Company Plc led the losers after falling by 5% each to close at N1.71 and 76 kobo per share, respectively. Nigerian Breweries Plc declined by 4.97% or N8.89 to close at N170.11 per share, while Ikeja Hotel Plc and Neimeth International Pharmaceutical Plc shed 4.88% and 4.76% to close at 78 kobo and N1.20 per share in that order.