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Blue chips’ gains buoy market value by N23bn

By  Michael Eboh  & Chinedu Ibeabuchi

A bullish trend was recorded on the Nigerian Stock Exchange (NSE), last week, as the value of listed equities, driven by gains on the share prices of blue chip companies, went up by N21.98 billion.

In particular, the market capitalisation, a major indicator of total equity value, appreciated by 0.38 per cent, from N5.796 trillion at which it opened, to close the week at N5.818 trillion.
The All-share index, also appreciated by 0.38 per cent, rising by 95.89 basis points to close the week at 25,382.50 points from 25,286.61 points at which it opened the week.

Nestle Nigeria Plc recorded the most share price gain, rising by N27.45 to close at N198.45 per share, Lafarge Cement WAPCO Nigeria Plc followed with a gain of N4.53 to close at N35.40 per share and UAC Nigeria Plc garnered N3.99 to close at N40.00 per share.

Other share price gainers include: Nigerian Breweries Plc N3.00, Unilever Nigeria Plc N1.81, Guinness Nigeria Plc N1.50, Ashaka Cement Plc N1.30, Benue Cement Company Plc N1.10, University Press Plc N1.07, Oando Plc N1.00 among others.

On the contrary African Petroleum Plc recorded the most share price loss, dropping by N10.36 to close at N62.32 per share, Total Nigeria Plc followed with a loss of N6.01 to close at N152.00 per share and Conoil Plc dipped by N2.73 to close at N49.40 per share.
Other share price losers include: Seven-Up Bottling Company Plc  N2.57, Nigerian Bottling Company Plc N2.30, Julius Berger Nigeria Plc N1.82, G Cappa Plc N1.81, UAC Property Development Company Plc N1.32, Eterna Oil and Gas Plc N1.03, Dangote Sugar Refinery Plc N0.77 among others.

Equity trading, in the week under review, appreciated by 24.4 per cent, as a turnover of 3.11 billion shares valued N24.63 billion was recorded in 41,079 deals, in contrast to the previous week’s turnover of 2.5 billion shares valued at N17.75 billion in 44,166 deals.

The Banking sub-sector emerged the most active in the sectorial analysis, accounting for 32.48 per cent of the market turnover, with 1.01 billion shares valued at N9.42 billion in 20,997 deals. Zenith Bank Plc recorded the most patronage in the sub-sector, trading 146.5 million shares valued at N2.11 billion in 1,398 deals, First Bank of Nigeria Plc followed with the exchange of 103.14 million shares valued at N1.69 billion in 5,436 deals and Skye Bank Plc recorded 93.59 million shares valued at N586.04 million in 1,150 deals.

The  Hotel and Tourism sub-sector followed on the sectorial analysis, accounting for 29.84 per cent of the market turnover, 927.81 million shares valued at N3.1 billion in 81 deals. Shares of Tourist Company of Nigeria Plc were the most sought after in the sub-sector, trading 473.55 million shares valued at N2.38 billion in one deal, Capital Hotel Plc followed with the exchange of 454.25 million shares valued at N698.51 million in 75 deals and Ikeja Hotel Plc recorded 9,330 shares valued at N23,325 in five deals.


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