Stock Market Capitalisation Sheds N55billion

Equity trading at the Nigerian Stock Market on Thursday, July 28, returned south after a two day break from the intense bear momentum that held market activities down for almost a week.

As a result of intense profit-taking on the floor of the Bourse, market capitalisation dropped by N55 billion ending trade for the day in the negative zone

The market capitalisation which opened at N9.687 trillion lost N55 billion or 0.57 per cent to close at N9.632 trillion, The News Agency of Nigeria,NAN, reports.

FBN Holdings emerged the toast of investors’, trading 86.19 million shares worth N289.79 million. GT Bank followed with an exchange of 38.61 million shares valued at N902.11 million and Skye Bank traded 22.81 million shares worth N16.20 million.

Zenith Bank exchanged 21.86 million shares valued at N361.73 million, while United Bank for Africa sold 14.54 million shares worth N64.44 million.

At the end of the day, investors traded 270.72 million shares valued at N2.25 billion transacted in 4,609 deals  in contrast with a total of 488.89 million shares worth N4.85 billion achieved in 4,713 deals on Wednesday.