Market capitalisation falls by N89.14bn

The stock market of the Nigerian Exchange Limited on Monday began the week on a negative note as the market capitalisation lost N89.14bn.

The NGX All-Share Index decreased by 163.66 basis points or 0.32 per cent to close at 52,348.82 basis points from 52,512.48 basis points.

Similarly, the overall market capitalisation size lost N89.14bn to close at N28.513tn from N28.602tn it opened for trading.

However, the market breadth closed positive, recording 20 gainers as against 23 losers.

Presco recorded the highest price gain of 9.67 per cent to close at N150.80, while Wapic Insurance followed with a gain 9.52 per cent to close at 46 kobo, per share.

FTN Cocoa processors went up by 7.14 per cent to close at 30 kobo, while R.T Briscoe Nigeria and Associated Bus Company appreciated by 6.90 per cent each to close at 31 kobo each,  per share

On the bearish log, Chellarams led the losers’ chart by 9.70 per cent to close at N1.21, per share. Prestige Assurance followed with a decline of 8.70 per cent to close at 42 kobo, while Livestock Feeds lost 7.69 per cent to close at N1.20, per share.

Mutual Benefits Assurance lost 6.25 per cent to close at 30 kobo, while Honeywell Flour Mills shed 6.22 per cent to close at N2.26, per share.

Meanwhile, the total volume traded rose by 2.16 per cent to 221.854 million shares, worth N3.25bn, and traded in 5,219 deals.

Transactions in the shares of UBA topped the activity chart with 22.933 million shares valued at N185.902m. GTCO followed with 20.031 million shares worth N482.502m, while Transnational Corporation of Nigeria traded 14.594 million shares valued at N17.601m.

FBN Holdings traded 14.124 million shares valued at N163.128m, while Zenith Bank transacted 13.517 million shares worth N336.303m.

United Capital Plc anticipated sustained bullish sentiment in the market as investors take positions ahead of the full-year 2022 earnings season.

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