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Bears depress NSE market value by N35bn

By Michael Eboh
The bearish trend in the Nigerian Stock Exchange (NSE) continued Monday, as equities’ value depreciated by N35.46 billion.

In particular, the market capitalisation and All-share index, representing equities’ value, both dropped by 0.7 per cent.  The capitalisation closed at N5.040 trillion from N5.076 trillion at which it opened, while the index shed 150.32 basis points to close at 21,366.97 points from 21,517.29 points at which it opened.

The dip in the market indices was as a result of losses on the share prices of major blue chip companies, led by Total Nigeria Plc with a loss of N8.00 to close at N152.00 per share, Conoil Plc followed with a loss of N1.84 to close at N35.07 per share and Flour Mills Nigeria Plc dipped by N1.69 to close at N32.18 per share.

Other share price losers include: Nigerian Bottling Company Plc N1.05, Ecobank Nigeria Plc N0.88, GTBank Plc N0.85, First Bank of Nigeria Plc N0.44, Union Bank Nigeria Plc N0.27, Zenith Bank Plc N0.26, Ashaka Cement Plc N0.19 among others.

On the other hand, Nestle Nigeria Plc recorded the most share price gain, rising by N11.79 to close at N247.72 per share, African Petroleum Plc followed with a gain of N1.59 to close at N33.87 per share and Unilever Nigeria Plc garnered N0.95 to close at N20.17 per share.

Other share price gainers include: UAC Property Development Company Plc N0.50, Nigerian Aviation Handling Company Plc N0.39, Ecobank Transnational Incorporated N0.30, University Press Plc N0.26, Diamond Bank Plc N0.24, Skye Bank Plc N0.21, IHS Plc N0.21 among others.

Equity trading appreciated by 14.33 per cent, as a turnover of 482.36 million shares valued at N3.59 billion was recorded in 6,140 deals, in contrast to Friday’s turnover of 421.91 million shares valued at N3.31 billion in 6,708 deals.

Information and Communication Technology sub-sector enjoyed the most patronage, accounting for 44.37 per cent of the market turnover, with 214.01 million shares valued at N860.68 million in 57 deals.

IHS Plc solely accounted for majority of the transaction in the sub-sector, accounting for 99.22 per cent of the sub-sector’s turnover, with 212.35 million shares valued at N857.96 million in 11 deals, Starcomms Plc followed with the exchange of 1.16 million shares valued at N2.4 million in 33 deals and Chams Plc recorded 466,120 shares valued at N0.302 million in 11 deals.

The Banking sub-sector followed on the sectorial analysis, accounting for 76.18 per cent of the market turnover, with 171.56 million shares valued at 1.53 billion in 3,656 deals.

First Bank of Nigeria Plc enjoyed the most patronage in the sub-sector, trading 46.5 million shares valued at N644.85 million 1,268 deals, followed by United Bank for Africa Plc with the exchange of 18.99 million shares valued at N213.42 million in 289 deals and Skye Bank Plc recorded 14.5 million shares valued at N77.74 million in 162 deals.


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