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Share value dips by N88bn

By Michael Eboh & Chinedu Ibeabuchi
The value of listed equi ties on the Nigerian Stock Exchange (NSE) dipped last week by N87.82 billion.
This was even as the market capitalisation and All-share index both dipped by 1.75 per cent each. The capitalisation which opened the week at N5.012 trillion shed N87.82 billion to close at N4.924 trillion while the index dipped by 383.1 basis points to close the week at 21,483.02 points from 21,866.12 points at which it opened.

The decline in the indices for measuring performance of listed equities was occasioned by losses on the share prices of majority of the blue chip companies, with Guinness Nigeria Plc recording the most share price loss, dropping by N4.73 to close at N130.37 per share, Chevron Oil Nigeria Plc followed with a loss of N3.87 to close at N73.63 per share and Julius Berger Nigeria Plc dipped by 3.38 to close at N18.87 per share.

Other share price losers include: African Petroleum Plc N2.82, Ecobank Nigeria Plc N2.58, Union Bank Nigeria Plc N2.30, Total Nigeria Plc N2.00, Oando Plc N1.99, University Press Plc N1.85, UAC Nigeria Plc N1.80 among others.

On the contrary, Benue Cement Company Plc recorded the most share price gain, rising by N2.99 to close at N42.99 per share, Northern Nigeria Flour Mills Plc followed with a gain of N2.62 to close at N12.20 per share and Glaxo SmithKline Consumer Plc garnered N1.86 to close at N21.76 per share.

Other share price gainers include: GTBank Plc N1.16, Flour Mills Nigeria Plc N1.10, First Bank of Nigeria Plc N0.91, Zenith Bank Plc N0.81, United Bank for Africa Plc N0.80, First City Monument Bank Plc N0.55, AG. Leventis (Nigeria) Plc N0.43 among others.

The declining trend continued in equity trading, as a turnover of 1.91 billion shares valued at N13.8 billion was recorded 27,712 deals, dropping by 9.05 per cent from the previous week’s turnover of 2.1 billion shares valued at N13.2 billion in 29,963 deals.

The Banking sub-sector dominated the other sub-sectors, accounting for 54.97 per cent of the market turnover, with 1.05 billion shares valued at N8.56 billion in 13,548 deals. Zenith Bank Plc emerged the most active in the sub-sector, trading 232.24 million shares valued at N2.54 billion in 1,140 deals, followed by First Bank of Nigeria Plc with the exchange of 107.16 million shares valued at N1.5 billion in 4,110 deals and United Bank for Africa Plc recorded 106.58 million shares valued at N1.17 billion N1.17 billion in 1,265 deals.


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