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NSE market capitalisation opens week with N162bn loss

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The market capitalisation which opened at N12.695 trillion lost N162 billion to close at N12.533 trillion.

Specifically, the market capitalisation which opened at N12.695 trillion lost N162 billion to close at N12.533 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are Nestle, Beta Glass, BUA Cement, Julius Berger and C & I Leasing. Analysts at APT Securities and Funds Limited, on their expectations, said, “We expect a slowdown in market activity in a short while before positive rally picks up in mid to long-term owing to anticipating half year earnings release.”Beta Glass dominated the losers’ chart in percentage terms, losing 9.95 per cent, to close at N61.55, per share.

This was in contrast with a turnover of 144.31 million shares valued at N1.52 billion achieved in 3,993 deals on Friday.

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