By Michael Eboh
Investors lost N42.9Â Â Â billion of their investment in quoted securities on the Nigerian Stock Exchange (NSE), this week.
This was occasioned by a depreciation in the value of their investment, represented by the market capitalisation and All-share index.
The capitalisation which opened the week at N4.960 trillion, dropped by N42.9 billion, representing a depreciation of 0.9 per cent, to close the week at N4.917 trillion, while the index shed 193.82 basis points to close at 20,528.82 points from 20,722.64 points.
Losses on the share prices of major blue chips accounted for the decline in the major market indices.
The NSE Food/Beverages index dropped by 0.61 per cent to close at 514.38 points, the NSE Banking index shed 1.51 per cent to close the week under review at 332.46 points, NSE Insurance index depreciated by 0.75 per cent to close at 247.76 points, while the NSE Oil and Gas index closed flat at 290.55 points.
Flour Mills Nigeria Plc recorded the most share price loss, dropping by N2.80 to close at N37.00 per share, Guinness Nigeria Plc followed with a loss of N2.45 to close at N127.50 per share and Nigerian Breweries Plc shed N2.01 to close at N50.00 per share.
Other share price gainers include: Chemical and Allied Products Plc N1.23, Glaxo SmithKline Consumer Plc N1.18, Julius Berger Nigeria Plc N1.09, Eterna Oil and Gas Plc N0.94, Incar Plc N0.78, Ecobank Nigeria Plc N0.58, Union Bank Nigeria Plc N0.57 among others.
Chevron Oil Nigeria Plc, on the other hand, recorded the most share price gain, rising by N3.32 to close at N69.79 per share, Ecobank Transnational Incorporated followed with a gain of N0.80 to close at N14.70 per share and Presco Plc garnered N0.60 to close at N5.62 per share.
Other share price gainers include: GTBank Plc N0.41, Dangote Flour Mills Plc N0.31, Skye Bank Plc N0.25, Afribank Nigeria Plc N0.25, Academy Press Plc N0.24, Ashaka Cement Plc N0.20, Costain (West Africa) Plc N0.17 among others.
Equity trading in the week under review, depreciated by 40.91 per cent, as a turnover of 1.3 billion shares valued at N11.01 billion was recorded in 15,731 deals, in contrast to the previous dayâ€™s turnover of 2.2 billion shares valued at N10.95 billion in 31,562 deals. Trading was recorded on the NSE for only three days, in the week under review, as Thursday and Friday were declared as public holidays in commemoration and Christmas and Boxing Day.
The Banking sub-sector dominated the other sub-sectors, accounting for 65 per cent of the market turnover, 845.12 million shares valued at N7.38 billion in 7,536 deals.
United Bank for Africa Plc recorded the highest transaction in the sub-sector, trading 324.62 million shares valued at 3.52 billion in 496 deals, followed by GTBank Plc with the exchange of 91.29 million shares valued at N1.41 billion in 932 deals and Skye Bank Plc recorded 63.15 million shares valued at N349.45 million in 420 deals.
The Insurance sub-sector followed on the sectorial analysis, accounting for 17.23 per cent of the market turnover, with 224.11 million shares valued at N313 million in 1,055 deals.
Continental Reinsurance Plc dominated trading in the sub-sector, with a turnover of 85.66 million shares valued at N107.04 million in 47 deals, Guaranty Trust Assurance Plc followed with the exchange of 67.66 million shares valued at N141.13 million in 102 deals and NEM Insurance Plc recorded 13.67 million shares valued at N7.68 million in 74 deals.