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Equity trading soars by 196%, despite bearish trend

By Chinedu Ibeabuchi
Despite the bearish trend that characterised activities in the Nigerian capital market within  the last one week, equities trading on the Nigeria Stock exchange, appreciated, Wednesday, by 195.5 per cent.
Specifically, a turnover of 1.03 billion shares valued at N3.81 billion was recorded in 8,686 deals in contrast to the previous day’s turnover of 348.51 million shares valued at N3.32 billion in 11,168 deals.

The Insurance sub-sector dominated the other sub-sectors, accounting for 30.4 per cent of the market turnover with 313.87 million shares valued at N197.82 million in 977 deals. Goldlink Insurance Plc was the most patronised in the sub-sector with 234.19 million shares valued at N124 million in 111 deals, followed by Great Nigerian Insurance Plc with 19.82 million shares valued at N15.07 million in nine deals and Consolidated Hallmark Insurance Plc recorded 11.09 million shares valued at N8.33 million in 18 deals.

The banking sub-sector followed in the sectorial analysis, with a turnover of 205.03 million shares valued at N2.16 billion in 5,178 deals. Zenith Bank Plc emerged the most active in the sub-sector, trading 42.47 million shares valued at N566.09 million in 371 deals, followed by Wema Bank Plc with 31.18 million shares valued at N105.61 million in 272 deals and First Inland Bank Plc recorded 28.8 million shares valued at N69.66 million in 60 deals.

However, driven by losses on the share prices of quoted companies, equity trading dipped by N5.16 billion.
The dip was represented by a depreciation in the value of the key market indicators, the All-share index and market capitalisation.  The capitalisation which opened at N5.97 trillion depreciated by 0.09 per cent to close at N5.96 trillion, while the all share index dipped by 0.53 per cent to close at 26,026.89 points from 26,164.42 basis points at which it opened.

Guinness Nigeria Plc recorded the highest share price gain, rising by N6.40 to close at N134.40 from N128.00 at which it opened, followed by Benue Cement Company Plc with a gain of N1.40 to close at N38.00 and Nigeria Bottling Company Plc garnered N1.18 to close at N24.79.
Other share price gainers include: Nigeria Breweries Plc N1.00, P Z Cussons Nigeria Plc N0.91, B.O.C Gases Plc N0.75, Unilever Nigeria Plc N0.66, Ecobank Transnational Incorporated Plc N0.58, United Bank for Africa Plc N0.38, Oceanic Bank Plc N0.29, among others.

Total Nigeria Plc recorded the most share price loss, dropping by N8.75 to close at N166.25 from N175.00 at which it opened, followed by African Petroleum Plc, shedding N4.50 to close N85.51 and Oando Plc lost N1.49 to close at N87.51.

Other share price losers include: Eterna Oil Plc N1.26, UACN Plc N0.90, Union Bank of Nigeria Plc N0.82, Zenith Bank Plc N0.69, Julius Berger Plc N0.55, Flour Mills Nigeria Plc N0.51, Dangote Sugar Refinery Plc N0.49, among others.


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