By Michael Eboh
A significant decline was recorded in trading, Tuesday, on the Nigerian Stock Exchange (NSE), as the volume of shares traded dipped by 42.32 per cent. The decline was also witnessed in the key market indices, as the value of listed equities, represented by the market capitalisation and All-share index, dipped by N38.62 billion.
Particularly, the index which opened at 25,173.13 points dipped by 168.47 basis points, representing a decline of 0.67 per cent, causing it to close at 25,004.66 points, while the capitalisation depreciated by N38.62 billion or 0.67 per cent to close at N5.731 trillion from N5.770 trillion at which it opened.
Also, a turnover of 351.38 million shares valued at N2.44 billion was recorded in 9,502 deals, in contrast to the previous dayâ€™s turnover of 609.15 million shares valued at N2.99 billion in 7,118 deals.
The decline in the major market indices was occasioned by losses on the share prices of majority of the blue chip companies, brought about by cautious profit-taking by investors.
Lafarge Cement WAPCO Plc recorded the most share price loss, dropping by N1.63 to close at N32.00 per share, Benue Cement Company Plc followed with a loss of N1.49 to close at N48.00 per share and Flour Mills Nigeria Plc dipped by N1.20 to close at N22.83 per share.
Other share price losers include: African Petroleum Plc N1.16, Oando Plc N1.01, UAC Nigeria Plc N1.00, Dangote Sugar Refinery Plc N0.75, Ashaka Cement Plc N0.70, Union Bank Nigeria Plc N0.69, UAC Property Development Company Plc N0.63 among others. Conversely, Nestle Nigeria Plc recorded the most share price gain, rising by N3.97 to close at N203.97 per share, Ecobank Transnational Incorporated followed with a gain of N0.70 to close at N15.70 per share and Conoil Plc garnered N0.57 to close at N47.50 per share.
Other share price gainers include: Julius Berger Nigeria Plc N0.53, Stanbic IBTC Bank Plc N0.43, University Press Plc N0.39, Longman Nigeria Plc N0.39, RT. Briscoe Nigeria N0.30, Intercontinental Bank Plc N0.25, Guinness Nigeria Plc N0.20 among others.
The Banking sub-sector emerged the most active in the sectorial analysis, accounting for 47.8 per cent of the market turnover, 167.94 million shares valued at N1.54 billion in 4,876 deals. First Bank of Nigeria Plc recorded the highest transaction in the sub-sector, trading 33.42 million shares valued at N527.39 million in 1,057 deals, Fidelity Bank Plc followed with the exchange of 22.67 million shares valued at N54.85 million in 368 deals and Skye Bank Plc recorded 13.37 million shares valued at N78.34 million in 304 deals.
The Insurance sub-sector followed on the sectorial analysis, accounting for 30.74 per cent of the market turnover, with 108.02 million shares valued at N101.47 million in 1,364 deals. International Energy Insurance Insurance Plc emerged the most active in the sub-sector, trading 50.27 million shares valued at N45.67 million 189 deals.
, followed by AIICO Insurance Plc with the exchange of 21.77 million in 787 deals, while Investment and Allied Assurance Plc recorded 15.01 million shares valued at N7.51 million in four deals.