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Market capitalization sheds N2 billion as trading week ends on a negative

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Trading on the Nigerian equities market ended this week on a negative note on Friday as market indices declined by 0.15 percent.The market capitalization fell N2 billion to close at N13.14 trillion as against N13.16 trillion on Thursday.

In a similar vein, the all-share index declined by 37.13 basis points to close at 25,199.84, lower than Thursday’s 25,236.97.

The market sentiment also closed negative on Friday as it recorded 23 losers and 11 gainers at the end of trading.

On the losers table were CAP which lost 90k to close at N17.00, MTN Nigeria which lost 50k to close at N119.00 and Unilever which declined by 50k to close at N12.50k.

CILEASING was top on the gainers list closing at N4.40 after a gain of 40k.Buacement also gained 30k to close at N38.90k and Fidson gained 17k to close at N3.70k.

WAPIC dominated activities accounting for 101.094 million shares worth N33.36 million followed by Unilever which traded 67.871 million shares worth N848.49 million.

Three of the five sectoral indices namely banking, insurance and Consumer goods recorded decline at 0.19 percent, 0.55 percent, and 0.68 percent respectively while the Industrial index recorded 0.24 percent gain, and the Oil and gas index remained flat at 0 percent.

At the end of the day’s trading, a total of 3,897 deals were transacted whereby 482.51 million shares valued at N4.52 billion were traded.

This however was in contrast to the negative trend of the day as it was an increase from Thursday’s 258.08 million shares worth N1.67 billion traded in 3,640 deals.

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