Market capitalisation drops further to N9bn 

By Philemon Adedeji

The Nigeria equities market closed yesterday marginally on negative performance for the third day of week as overall market capitalisation value dipped further by N9 billion to close trade at N28.558 trillion from N28.567 trillion it closed for previous trading day.

The All share index (ASI) also went down by 16.13 points representing 0.03 per cent to 52,974.15 index points from 52,990.28 index points which close trade on the previous trading day.

Market sentiments was positive as 14 stocks constituted the gainers against 20 stocks that constituted the decliners

In all, the total volume of trade dipped by 7 per cent to 295,353,818 million share from 318,278,141 million share it closed trade on Tuesday valued by N3.590 and exchanged in 4,637 deals.

Eternal plc gained 9.90 per cent or 0.67 kobo increased to close trade at N7.44 per share, FTN cocoa followed with appreciation of 0.03 kobo representing 9.38 per cent to close at N0.35 per share, Nigerian aviation handling company went up by 8.57 per cent to 0.57 kobo increased to close trade at N7.22 per share and Ikeja Hotel rose by 7.83 per cent or 0.09 kobo to close trade at N1.24 per share, Transcorp plc emerged yesterday as the last fifth gainer with 4 per cent or 0.05 kobo increased to close trade at N1.30 per share.

On the losers table, Okomu oil emerged as the overall loser yesterday at the close of trade which down by 21.50 kobo to represent 10 per cent to close trade at N193.50 per share, NCR followed with 9.77 per cent drop or 0.39 kobo to close trade at N3.60 per share.

Conoil Oil Plc declined by 8.35 per cent or 2.65 kobo to close trade at N29.10 per share, NEIMETH pharmaceutical industry which recorded as the last fourth loser dipped by 0.12 kobo representing 7.19 per cent to close trade at N1.50 per share and Fidelity bank depreciated by 4.71 per cent or 0.16 kobo to close trade at N3.24 per share.

Transaction in the share of Transcorp led the activity chart with 121.837 million share worth N156.149 million, Guaranty Trust Holding company followed which sold 20.123 million share valued at N493.419 million.

Conoil Oil plc traded 16.954 million share worth N493.419 million, while Sterling bank sold 16.051 million share valued at N23.696 million and Royalex exchange transacted 11.824 million share valued at N11.017 million.

Transcorp led in yesterday trade in terms of volume while Conoil Oil plc led in terms of value.