By Michael Eboh
Despite the bearish trend in the Nigerian capital market, a slight improvement was recorded in the share prices of some of the listed equities, as Benue Cement Company Plc and 21 other quoted companies recorded share price gain.
Furthermore, the key market indices, represented by the market capitalisation and All-share index, both dipped by 1.32 per cent each. The capitalisation which opened at N5.195 trillion shed N68.6 billion to close at N5.126 trillion, while the index dipped 299.27 basis points to close at 22,365.02 points from 2,664.29 points at which it opened.
Benue Cement Company Plc recorded the most share price gain, rising by N1.63 to close at N34.35 per share, GTBank Plc followed with a gain of N0.66 to close at N13.97 per share and Lafarge Cement WAPCO Plc garnered N0.64 to close at N26.00 per share.
Other share price gainers include: Guinness Nigeria Plc N0.55, Unilever Nigeria Plc N0.55, Nigerian Aviation Handling Company Plc N0.36, Flour Mills Nigeria Plc N0.34 Access Bank Plc N0.28, Ashaka Cement Plc N0.19, Oceanic Bank International Plc N0.18 among others.
On the contrary, Nestle Nigeria Plc recorded the most share price loss, dropping by N6.50 to close at N165.00 per share, Mobil Oil Nigeria Plc followed with a loss of N5.85 to close at N111.15 per share and Conoil Plc dipped by N2.61 to close at N49.65 per share.
Other share price losers include: Nigerian Breweries Plc N2.03, Julius Berger Nigeria Plc N1.45, Nigerian Bottling Company Plc N1.34, UAC Nigeria Plc N1.19, Glaxo SmithKline Consumer Plc N0.81, UAC Property Development Company Plc N0.80, First Bank of Nigeria Plc N0.71 among others.
Equity trading, driven by activity in the banking sub-sector, appreciated by 59.9 per cent, as a turnover of 489.04 million shares valued at N3.69 billion was recorded in 8,811 deals, in contrast to the previous dayâ€™s turnover of 305.85 million shares valued at N2.29 billion in 6,697 deals.
The Banking sub-sector recorded the highest transaction in th sectorial analysis, accounting for 58.6 per cent of the market turnover, with 286.6 million shares valued at N2.36 billion in 5,354 deals. Zenith Bank Plc emerged the most active in the sub-sector, trading 50.8 million shares valued at N559.4 million in 385 deals, followed by First Bank of Nigeria Plc with the exchange of 40.87 million shares valued at N558.42 million in 1,478 deals and Diamond Bank Plc recorded 34.22 million shares valued at N205.65 million in 69 deals.