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Share value plunges, investors lose N706bn

By Michael Eboh
Investors’ woes were heightened last week, as the value of their investments on the Nigerian Stock Exchange (NSE) dipped by N706.21 billion.

Specifically the loss in the value of their investment was brought about by losses in the share prices of majority of the listed equities, which forced down the market capitalisation and All-share index by 10.71 per cent each.

The capitalisation which opened the week under review at N6.593 trillion dipped by N706.21 billion to close the week at N5.886 trillion, while the index dropped by 3,096.64 basis points to close at 25,813.55 points from 28,910.19 points.

UAC Nigeria Plc led 101 other share price losers, in the week under review, dropping by N6.00 to close at N35.00 per share, Flour Mills Nigeria Plc followed with a loss of N5.14 to close at N22.86 per share and Julius Berger Nigeria Plc shed N4.66 to close at N29.34 per share.

Other share price losers include: Nigerian Breweries Plc N4.50, Ecobank Transnational Incorporated N4.07, Zenith Bank Plc N3.80, Nigerian Bottling Company Plc N3.37, Oando Plc N3.35, Guinness Nigeria Plc N3.20, African Petroleum Plc N3.11 among others.

Total Nigeria Plc, on the other hand, led 11 other share price gainers, rising by N14.05 to close at N169.05 per share, Nestle Nigeria Plc followed with a gain of N8.89 to close at N189.00 per share and Mobil Oil Nigeria Plc dipped by N5.12 to close at N117.99 per share.

Other share price losers include: Benue Cement Company Plc 2.84, May & Baker Nigeria Plc N0.90, University Press Plc N0.90, Lafarge Cement WAPCO Plc N0.67, Longman Nigeria Plc N0.64, Neimeth International Pharmaceuticals Plc N0.64, International Breweries Plc N0.31 among others.

The declining trend continued in equity trading, as a turnover of 2.64 billion shares valued at N20.64 billion was recorded in the week under review, in 36,728 deals, in contrast to the previous week’s turnover of 2.75 billion shares valued at N25.34 billion in 53,259 deals.

Trading was driven by activity in the Banking sub-sector, accounting for 47.35 per cent of the market turnover, with 1.25 billion shares valued at N13.83 billion in 21,647 deals. GTBank Plc recorded the highest transaction in the sub-sector, trading 265.13 million shares valued at N3.42 billion in 2,367 deals, followed by United Bank for Africa Plc, with the exchange of 242.83 million shares valued at N3.22 billion in 2,300 deals and Access Bank Plc recorded 99.1 million shares valued at N876.37 million in 1,527 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 20.61 per cent of the market turnover, with 544.94 million shares valued at N565.7 million in 3,694 deals. Goldlink Insurance Plc emerged the most active in the sub-sector, trading 186.13 million shares valued at N94.77 million in 253 deals, Standard Alliance Insurance Plc followed with the exchange of 64.05 million shares valued at N107.28 million in 390 deals and Guinea Insurance Plc recorded 44.26 million shares valued at N37.44 million in 154 deals.


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