Breaking News
Translate

Bearish run persists, equities’ value dips by N16bn

By Michael Eboh
The bearish run in the Nigerian capital market continued, Wednesday, as the value of listed equities on the Nigerian Stock Exchange (NSE) dipped by N15.77 billion.

In particular, the market capitalisation, a major indicator for measuring equities’ value, shed 0.32 per cent, from N4.906 trillion at which it opened to close at N4.890 trillion.

The All-share index also dipped by 0.32 per cent to close at 21,335.94 points from 21,404.75 points at which it opened.
Total Nigeria Plc recorded the most share price loss, dropping by N1.50 to close at N130.00 per share, followed by CAP Plc with a loss of N1.39 to close at N26.52 per share and Julius Berger Nigeria Plc dipped by N1.10 to close at N20.90 per share.

Other share price losers include: African Petroleum Plc N0.89, Beta Glass Company Plc N0.87, Dangote Sugar Refinery Plc N0.64, Union Bank Nigeria Plc N0.46, Nigerian Aviation Handling Company Plc N0.46, Pharma Deko Plc N0.37, Access Bank Plc N0.29 among others.

Conversely, cement Company of Northern Nigeria Plc recorded the most share price gain, rising by N0.52 to close at N11.07 per share, Ecobank Transnational Incorporated followed with a gain of N0.49 to close at N11.99 per share and Zenith Bank Plc garnered N0.49 to close at N10.99 per share.Other share price gainers include: Stanbic IBTC Bank Plc N0.33, Ashaka Cement Plc N0.28, First City Monument Bank Plc N0.16, International Breweries Plc N0.11, Red Star Express Plc N0.11, First Bank of Nigeria Plc N0.10, National Salt Company Plc N0.09 among others.

Equity trading depreciated by 3.31 per cent, as a turnover of 358.9 million shares valued at N2.8 billion in 6,027 deals, in contrast to the previous day’s turnover of 371.19 million shares valued at N2.62 billion in 5,941 deals.

The Banking sub-sector recorded the highest patronage in the sectorial analysis, accounting for 64.39 per cent of the market turnover, with 231.1 million shares valued at N1.85 billion in 2,741 deals. First City Monument Bank Plc emerged the most active in the sub-sector, trading 46.98 million shares valued at N234.9 million in 61 deals, followed by Zenith Bank Plc with the exchange of 36.76 million shares valued at N387.8 million in 235 deals and First Bank of Nigeria Plc recorded 36.74 million shares valued at N503.5 million in 903 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting 14.59 per cent of the market turnover, with 52.35 million shares N34.21 million in 644 deals.

Investment and Allied Assurance Plc enjoyed the most patronage in the sub-sector, trading 14.04 million shares valued at N7.02 million in six deals, followed by Equity Assurance Plc with the exchange of 13.86 million shares valued at N6.93 million in 61 deals.
and AIICO Insurance Plc recorded 10.06 million shares valued at N8.27 million in 338 deals.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.