Stock Exchange :NSE Market Capitalisation Declined

The Nigerian Stock Exchange (NSE) indicators closed lower despite gains made by some blue chip companies in yesterday's transactions at stock market.
Consequently, the NSE market capitalisation declined by N12 billion or 0.1 per cent from N12.124 trillion to N12.112 trillion, while the All-Share Index fell to 62,463.66 from 62,526.24.
The indicators had recovered penultimate Monday and continued to move upwards until the marginal slide yesterday.
Market operators however, said the market would bounce back.
Investors traded 550.1million shares worth N8.6 billion in 18,051 deals compared to a total of 734.7 million shares worth N8.4 billion exchanged in 19,161 deals the previous day.
The insurance sub sector was the most active in terms of volume of shares traded. It led the equities sector with a turnover of 220.8 million ordinary shares valued at N1 billion made in 3,434 deals.
The high volume of shares traded in the insurance sub sector was largely driven by activity in the shares of Cornerstone Insurance Plc, Custodian and Allied Insurance Plc, Universal Insurance Plc and Linkage Assurance Plc. Trading on the shares of the four firms accounted for 117.3 million ordinary shares representing 53.1 per cent of the sub sector's turnover.
The banking sub sector, boosted by activity in the shares of Ecobank Nigeria Plc, Intercontinental Bank Plc, Sterling Bank Plc and Oceanic Bank International Plc trailed on the activity chart with a turnover of 196.8 million ordinary shares worth N4.8 billion exchanged in 8,453 deals.
Trading on the shares of the four banks accounted for 75.1 million ordinary shares or 38.1 percent of the sub sectors' turnover.
Meanwhile, 57 stocks appreciated in their prices. Nestle Nigeria Plc led the price gainers with N11.20 to close at N235.37 per share. Oando Plc chalked up N5.01,while CAP Plc and Ashaka Cement Plc appreciated by N2.34 and N2.28 respectively.
United Bank for Africa Plc, which announced a change its operational structure yesterday, garnered N2 to close at N57.50 per cent.
Other top price gainers included: Cadbury Nigeria Plc (N1.40), UACN Property Development Company Plc (N1.32), Lafarge WAPCO Plc (N1.21); Airline Services and Logistics Plc (N0.94) and Presco Plc (N0.93).
On the other hand, the prices of 41 stocks dropped. Costain (WA) Plc led on the price losers' chart. It recorded a loss of N2.29 to close at N43.70 per share.
Other price losers in the top 10 category included Ecobank
Transnational Incorporated (N2.22), G. Cappa Plc (N1.69), First Bank of Nigeria Plc (N1.57) and Northern Nigeria Flour Mills Plc (N1.42).