Yuletide: NSE market capitalisation shed N143 billion

The free fall of equities persisted on the Nigerian Stock Exchange on Tuesday with the market capitalisation losing N143 billion in about six hours of trading.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle, MTN Nigeria, Dangote Cement, Arbico Plc and Union Bank of Nigeria.They noted that some investors were selling off to attend to their needs ahead of the Yuletide celebration.DAAR Communications led the losers’ chart in percentage terms with a loss of 10 per cent to close at 36k per share.Cornerstone Insurance and Fidson Healthcare declined by 8.82 per cent each to close at 62k and N3.

However, the volume of shares traded rose marginally with an exchange of 196.29 million shares worth N3.55 billion traded in 3,153 deals.

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