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Market value soars by N123bn

By Providence Obuh and Chinedu Ibeabuchi
DRIVEN by gain on the share prices of majority of the quoted securities, the value of listed equities on the Nigerian Stock Exchange (NSE), appreciated, Monday, by N123.09 billion.

Specifically, the key market indices, represented by the market capitalisation and the All-share index both  rose by 2.35 percent respectively. The capitalisation which opened at N5.230 trillion garnered N123.09 billion to close at N5.353 trillion, while the index  rose by 529.42 basis points, to close at 23,026.69 points from 22,497.27 points at which it opened.

Fifty-six stocks recorded share price, while only twelve stocks recorded share price loss, with Nigerian Bottling Company Plc recording the highest share price gain, rising by N0.90 to close at N18.95 per share from N18.05 per share at which it opened, followed by First Bank of Nigeria Plc, rising by N0.76 to close at N15.96 per share and Zenith Bank Nigeria Plc gained N0.73 to close at N15.42 per share.

Other share price gainers include: United Bank for Africa Plc N0.72,Unilever Nigeria Plc N0.71, GTBank Plc N0.70, EcoBank Transnational Incorporated Plc N0.60, Cement Company of Northern Nigeria N0.59, Ashaka Cement Nigeria Plc N0.58, and Dangote Sugar Nigeria Plc N0.56 among others.

On the other hand Guinness Nigeria Plc recorded the highest share price loss dropping by N1.55 to close at N134.95. per share from N136.50 at which it opened, followed by Julius Berger Nigeria Plc with a loss of N1.40 to close at N26.70 per share and Nigeria Breweries Plc lost N1.40 to close at N53.50 per share.

Other share price losers include: Costain West Africa Plc N0.17, Starcomms Plc N0.11, Evans Medical Plc N0.08, Afromedia Plc N0.06, Cornerstone Insurance Company Plc N0.05, Daar Communications Plc N0.05, C $ I Leasing Nigeria Plc N0.04, among others.

However, equities trading recorded a significant decline, dropping by 47.82 per cent, with a turnover of 307.07 million shares valued at N2.05 billion in 4,939 deals, in contrast to Friday turnover of 588.53 million shares valued at N4.95 billion in 5,704 deals.

The Banking Sub-sector recorded the highest patronage in the sectorial analysis, accounting for 54.97 per cent of the market turnover, with 168.79 million shares valued at N1.36 billion in 2,447 deals.

Intercontinental Bank Nigeria Plc emerged the most active in the sub-sector, trading 31.67 million shares valued at N126.49 million in 186 deals, followed by United Bank for Africa Plc with the exchange of 23.99 million shares valued at N366.33 million in 330 deals and Afribank Nigeria Plc recorded  22.57 million shares valued at N25.03 million in 68 deals.

The Insurance Sub-sector followed, accounting for  18.76 percent of the market turnover, with 57.59 million shares valued at N61.68 million in 393 deals. Cornerstone Insurance Company Plc emerged as the most active in the sub-sector, trading 17.16 million shares valued at N18.86 million in 29 deals, Standard Alliance Insurance Plc followed with a turnover of 9.96 million shares valued at N8.99 million in 56 deals and Continental Reinsurance Company Plc recorded 8.52 million shares valued at N16.30 million in 16 deals.


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