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Market value appreciates marginally by N1.77bn

By Michael Eboh & Chinedu Ibeabuchi
A slight improvement was recorded in trading on the Nigerian Stock Exchange (NSE), Monday, as the value of listed equities appreciated by N1.77 billion.
Specifically, the market capitalisation which opened at N5.084 trillion rose by 0.03 per cent to close at N5.086 trillion while the All-share index garnered 7.42 points to close at 21,381.83 points from 21,374.41 points.

The improvement in the major market indices was occasioned by gains on the share prices of blue chips companies, led by Benue Cement Company Plc with a share price gain of N1.30 to close at N43.40 per share from N42.10 per share at which it opened, followed by UACN Property Development Company Plc rising by N1.00 to close at N21.00 per share and Nigeria Breweries Plc gained N0.50 to close at N53.50 per share.

Other share price gainers include: Lafarge Cement WAPCO Plc N0.50, Access Bank Plc N0.36, RT. Briscoe Plc N0.30, Vitafoam Plc N0.23, First Bank of Nigeria Plc N0.22, First City Monument Bank Plc N0.16, Fidelity Bank Plc N0.12 among others.

Julius Berger Nigeria Plc, On the other hand, recorded the most share price loss, dropping by N1.44 to close at N27.46 per share from N28.90 per share, followed by Cadbury Nigeria Plc dipping by N0.64 to close at N12.23 per share and UAC Nigeria Plc lost N0.50 to close at N39.00 per share.

Other share price losers include: Africa Petroleum Plc N0.49, United Bank for Africa Plc N0.46, Incar Nigeria Plc N0.41, United Bank of Nigeria Plc N0.31, Guaranty Trust Bank N0.29, University Press Plc N0.23 and Dangote Sugar Refinery Plc N0.11, among others.

Equity trading recorded a significant improvement, appreciating by 94 per cent, with a turnover of 279.94 million shares valued at N2.064 billion in 6,456 deals, in contrast to the previous day’s turnover of 144.38 million shares valued at N1.024 billion in 4,336 deals.

The Banking sub-sector retained its dominance in the sectorial analysis, accounting for 62.03 per cent of the market turnover, with 173.66 million shares valued at N1.429 billion in 3,569 deals.

This was driven by transactions on the shares of First Bank of Nigeria Plc with 35.59 million shares valued at N533.46 million in 981 deals, followed by Fidelity Bank Plc with the exchange of 23.37 million shares valued at N60.35 million in 186 deals and Skye Bank Plc recorded 17.67 million shares valued at N188.47 million in 233 deals.

The Insurance sub-sector followed in the sectorial analysis, accounting for 19.72 per cent of the market turnover, with 55.21 million shares valued at N43.16 million in 473 deals.

This was boosted by activities in the shares of Mutual Benefits Assurance Plc, Continental Reinsurance Plc and AIICO Insurance Plc which accounted for about 75 per cent of the total transactions in the sub-sector.


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