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Blue chips’ loss drags down share value by N48bn

By Michael Eboh
Occasioned by loss  es on the share prices of blue chip companies, the value of listed equities on the Nigerian Stock Exchange (NSE) dipped, Monday, by 47.99 billion.

Particularly, the value of listed equities, represented by the market capitalisation, dropped by 0.82 per cent, from N5.818 trillion at which it opened, to close at N5.770 trillion.

The All-share index, another key indicator, also dropped by 0.82 per cent to close at 25,173.13 points, from 25,382.50 points at which it opened.

Nigerian Breweries Plc recorded the most share price loss, dropping by N2.60 to close at N52.90 per share, Conoil Plc followed with a loss of N2.47 to close at N46.93 per share and UAC Nigeria Plc garnered N2.00 to close at N38.00 per share.

Other share price losers include: Lafarge Cement WAPCO Plc N1.77, PZ Cussons Nigeria Plc N0.97, UAC Property Development Company Plc N0.85, Morison Industries Plc N0.68, Zenith Bank Plc N0.52, Guinness Nigeria Plc N0.50, African Petroleum Plc N0.32 among others.
On the contrary, Oando Plc recorded the most share price gain, rising by N4.00 to close at N96.00 per share, Nestle Nigeria Plc followed with a gain of N1.55 to close at N200.00 per share and Unilever Nigeria Plc garnered N0.75 to close at N15.81 per share.

Other share price gainers include: Benue Cement Company Plc N0.49, Dangote Sugar Refinery Plc N0.48, Stanbic IBTC Bank Plc N0.41, University Press Plc N0.38, First City Monument Bank Plc N0.34, Cement Company of Northern Nigeria Plc N0.20, Vitafoam Nigeria Plc N0.19 among others.

A decline was also recorded in equity trading, depreciating by 17.58 per cent, as a turnover of 609.15 million shares valued at N2.996 billion was exchanged in 7,118 deals, in contrast to the previous day’s turnover  of 739.09 million shares valued at N3.03 billion in 7,533.

The Insurance sub-sector recorded the most patronage in the sectorial analysis, accounting for 60.03 per cent of the market turnover, with 365.65 million shares valued at N294.17 million shares in 1,220 deals. Activity in the sub-sector was driven by investors’ preference for shares of International Energy Insurance, which recently announced its fourth quarter financial results. It is proposing a dividend of N0.05 per share and a bonus of one ordinary share for every six ordinary shares held by its investors.

It traded 224.54 million shares valued at N181.0 million in 253 deals. Goldlink Insurance Plc followed with the exchange of 71.52 million shares valued at N35.76 million in five deals and AIICO Insurance Plc recorded 26.61 million shares valued at N32.91 million in 658 deals.

The Banking sub-sector followed on the sectorial analysis, accounting for 30.08 per cent of the market turnover, with 183.22 million shares valued at N1.98 billion in 3,639 deals. United Bank for Africa Plc recorded the highest patronage in the sub-sector, trading 63.12 million shares valued at 810.71 million in 276 deals, Zenith Bank Plc followed with the exchange of 26.05 million shares valued at N350.31 million in 221 deals and GTBank Plc recorded 20.08 million shares valued at N281.93 million in 353 deals.


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