Market Capitalization Slips Further By N38billion

The negative trend sweeping through the Nigerian Stock Market remained unchanged on Tuesday, March 15, as the market capitalization dipped further by N38 billion.

The market capitalization, which opened at N8.893 trillion shed N38 billion or 0.43 per cent to close at N8.855 trillion.

Market analysts attributed the development to investors’ reaction to profit warning released by Ecobank Transnational Plc.

An analysis of the price movement chart indicated that Nigerian Breweries recorded the highest loss of N4 to close at N93 per share.

However, despite the fall  recorded by the market indices, the volume of shares traded closed higher with a turnover of 287.04 million shares valued at N2.67 billion achieved in 4,561 deals.