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Market capitalisation depreciates by N706 bn in 5 days

The News Agency of Nigeria (NAN) reports that the market capitalization, which opened on Monday on N6.593 trillion closed on Friday on N5.887 trillion, representing…

The News Agency of Nigeria (NAN) reports that the market capitalization, which opened on Monday on N6.593 trillion closed on Friday on N5.887 trillion, representing a 10.7 per cent loss.

However, the Banking sub-sector, in spite of the lull, was the toast of most investors who traded 231.29 million shares valued at N2.53 billion in 4,792 deals.

The sub-sector was boosted by activities in the shares of UBA, which traded 58.20 million shares valued at N717.15 million in 447 deals.

The Insurance sub-sector transacted 16.45 million shares worth N20.31 million in 410 deals while the Information Communication sub-sector sold 14.88 million shares worth N47.52 million in 108 deals

The market capitalisation of the listed equities went down by N69 billion to close at N5.887 trillion as against  N5.956 trillion recorded on Thursday.