Prices of equities tumbled yesterday with the twin market indicators on the Nigerian Stock Exchange (NSE), falling by 0.32 per cent or N23billion.
A review of the day’s transaction showed that, highly capitalised stocks comprising of 21 companies recorded price depreciation while 22 others depreciated in price.
Particularly at the close of transaction in the day, Cement Company of Northern Nigeria Plc topped the day’s losers’ table with 5.00 per cent to close at N1.26 while PZ Cusson Nigeria Plc followed with 4.98 per cent, to close at N25.50 per share. BetaGlass Plc, FCMB Plc and RT Briscoe Plc also lost by 4.95, 4.48 and 4.42 per cent, to close at N10.55, N3.20 and N1.73 per share respectively.
On the other hand, Fidelity Bank Plc emerged the day’s highest price gainers with 5.00 per cent to close at N5.70 per share. UAC-Properties Plc followed, adding 4.99 per cent, to close at N9.26 per share.
Evans Medical Plc, Conoil Plc and Air Service, added 4.88 per cent, 4.74 per cent and 4.72 per cent to close at N0.86, N20.54 and N1.33 per share.
Consequently, market capitalisation dropped by N23 billion or 0.32 per cent, from N7.084 trillion recorded on Monday to N7.061 trillion while All-Share Index dipped by 70.67 points or 0.32 per cent, from 22,191.14 to 22,120.47
With transaction exchanged in 2,087 deals, the banking sub-sector maintained its dominance in volume terms with 136.2 million shares, worth N1.09 billion. The insurance sub-sector trailed with 59.2 million units, worth N31.7 million while the Conglomerate sub-sector ranked third with 8.7 million units, worth N13.4 million in 154 deals.
In all, investors exchanged 232.4 million shares, worth N1.84 billion in 3,794 deals.