Equities drop points as market cap loses N15bn

Market capitalization depreciated by N15 billion or 0.12 per cent to close at N12.556 trillion from N12.771 trillion recorded on Monday.
The All Share Index lost 48.53 basis points to close at 39,858.23 as against 39,906.76 point recorded on Monday.
Summary of price changes shows that 37 equities appreciated in prices during the day higher than 17 depreciation recorded.
Champion Breweries led the losers’ table, depreciating by N0.88 kobo or 4.95 per cent to close at N16.91 kobo per share.
It was followed by International Breweries by N1.29 kobo or 4.45 per cent to close at N27.71 kobo while Livestock Feeds share price fell by N0.19 kobo or 4.32 per cent to close at N4.21 kobo per share.
Others are, May and Baker Nigeria and Eterna Oil with losses of N0.09 kobo or 4.41 per cent and N0.13 kobo or 3.09 per cent to close at N2.00 kobo and N4.08 kobo per share.
On the other hand, NEM Insurance and Transnational Incorporation led the gainers’ chart, appreciating by N0.06 kobo or 9.52 per cent and N0.33 kobo or 7.95 per cent respectively.