Market Capitalization Declines by 0.14%

On Thursday, May 5, the equity market closed on a negative note as major market indicators decreased marginally.

The market capitalization of the listed equities which closed with a gain of 0.55% at N13.745tn on Wednesday, fell by N19bn or 0.14% to close at N13.726tn.

The NSE All-Share Index also declined by 57.34 basis points or 0.14% on Thursday to close at 41,570.09 per share.

In all, investors exchanged a total of 477.406 million shares worth N6.320bn in 5,943 deals with 31 stocks recording price appreciation, while 31 others recorded price deprecation.

Topping the gainers was Red Star Express Plc which rose by 4.99% or 22kobo to close at N4.63 per share. Following closely was Conoil Plc with a 4.98 or N2.41 share price appreciation to close at N50.82 per share, while Avon Crowncaps and Containers Nigeria Plc was up by 4.97% or 8kobo to close at N1.69 per shares.

ABC Transport and Evans Medical Plc also rose by 4.94% and 4.92% to close at 85kobo and N2.56 per share respectively.

On the other hand, the losers table was topped by Oando Plc losing 6.59% or N1.34 to close at N19 per share. It was followed by Portland Paints and Products Nigeria Plc, which fell by 4.84% or 23 kobo to close at N4.52 per share, while Vono Products Plc declined by 4.43% or 7kobo to close at N1.51 per share.

Also among the losers were May and Baker Nigeria Plc and Cornerstone Insurance Company Plc were also among losers. They shed 3.95% and 3.85% at N170 and 50kobo per share respectively.