Market capitalisation dips by N170 billion

Following losses suffered by many blue-chip stocks, transactions on the Nigerian Exchange Limited continued on a downturn yesterday, as market capitalisation declined further by N170 billion.Following losses suffered by many blue-chip stocks, transactions on the Nigerian Exchange Limited continued on a downturn yesterday, as market capitalisation declined further by N170 billion. At the close of transactions yesterday, market capitalisation of listed equities declined by 0.

Further breakdown transactions showed that ABC Transport led the gainers’ table with 10 per cent to close at 77 kobo, Oando plc followed with a gain of 9.84 per cent to close at N24.55 kobo. Ikeja Hotel added 9.7 per cent to close at N7.35 kobo, RTBriscoe gained 9.59 per cent to close at 80 kobo. Presco Plc also garnered 7.83 per cent to close at N413. On the contrary, United Capital topped losers’ chart, dropping by 9.92 per cent to close at N34.

Following losses suffered by many blue-chip stocks, transactions on the Nigerian Exchange Limited continued on a downturn yesterday, as market capitalisation declined further by N170 billion. The Federal Government, yesterday, expressed concerns over Nigeria’s fish import bill, stressing that initiatives, including locally-designed technologies, storage facilities as well as the inclusion of women and youths in production, are underway to increase local capacity.

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