By Michael Eboh & Providence Obuh
Equitiesâ€™ value on theÂ Nigerian Stock Exchange (NSE) appreciated Wednesday, by N17.04 billion. Specifically, equitiesâ€™ value, represented by the market capitalisation, rose by 0.34 per cent to close at N5.064 trillion from N5.047 trillion at which it opened.
The All-share index also dropped by 0.34 per cent, shedding 72.22 basis points to close at 21,467.26 points from 21,395.04 points at which it opened.
African Petroleum Plc recorded the most share price gain, rising by N1.29 to close at N34.80 per share, UAC Property Development Company Plc followed with a gain of N0.97 to close at N20.42 per share and Flour Mills Nigeria Plc garnered N0.58 to close at N33.00 per share.
Other share price gainers include: Nigerian Breweries Plc N0.49, GTBank Plc N0.49, Seven-Up Bottling Company Plc N0.45, PZ Cussons Nigeria Plc N0.44, First City Monument Bank Plc N0.34, Dangote Flour Mills Plc N0.30, Ecobank Transnational Incorporated N0.30 among others.
Ecobank Nigeria Plc, on the other hand, recorded the most share price loss, dropping by N0.79 to close at N15.17 per share, Nigerian Bottling Company Plc followed with a loss of N0.64 to close at N18.50 per share and Ashaka Cement Plc dipped by N0.51 to close at N13.00 per share.
Other share price losers include: DN Meyer Nigeria Plc N0.29, First Bank of Nigeria Plc N0.28, Zenith Bank Plc N0.19, Cement Company of Northern Nigeria Plc N0.15, Costain (West Africa) Plc N0.12, Skye Bank Plc N0.10, International Breweries Plc N0.10 among others.
Equity trading, buoyed by heavy transactions in the shares of FinBank Plc and Goldlink Insurance Plc, appreciated by 170.78. In particular, a turnover of 1.01 billion shares valued at N3.02 billion was recorded in 6,505 deals, in contrast to the previous dayâ€™s turnover of 373.54 million shares valued at N3.64 billion in 5,783 deals.
The banking sub-sector dominated the other sub-sectors, accounting for 69.31 per cent of the market turnover, with 701.3 million shares valued at N2.3 billion in 3,687 deals. FinBank Plc enjoyed the most patronage in the sub-sector, trading 484.44 million shares valued at N314.83 million in 81 deals, GTBank Plc followed with the exchange of 41.36 million shares valued at N664.47 million in 418 deals and First Bank of Nigeria Plc recorded 27.66 million shares valued at N387.97 million in 905 deals.
The Insurance sub-sector followed, accounting for 21.58 per cent of the market turnover, with 217.8 million shares valued at N139.45 million in 618 deals. Goldlink Insurance Plc dominated trading in the sub-sector, with the exchange of 150.3 million shares valued at N75.15 million in 82 deals, Cornerstone Insurance Company Plc followed with a turnover of 26.5 million shares valued at N15.17 million in 53 deals, while Custodian and Allied Insurance Plc recorded 8.41 million shares valued at N26.61 million in 41 deals.