By Michael Eboh
THE declining trend in the Nigerian Stock Exchange (NSE) was halted Tuesday, as the value of listed equities appreciated by N2.43 billion.
Equitiesâ€™ value, represented by the market capitalisation, rose by 0.05 per cent from N4.904 trillion at which it opened to close at N4.907 trillion, while the All-share index garnered 10.21 basis points to close at N20,628.92 points from 20,618.71 points at which it opened.
The rise in the market indices was occasioned by gains on the share prices of major blue chip companies, with Flour Mills Nigeria Plc recording the most share price gain, rising by N1.65 to close at N34.65 per share, Guinness Nigeria Plc followed with a gain of N1.00 to close at N130.00 per share and Julius Berger Nigeria Plc garnered N0.99 to close at N26.99 per share.
Other share price gainers include: Nigerian Bottling Company Plc N0.92, UAC Property Development Company Plc N0.90, Cement Company of Northern Nigeria Plc N0.56, UAC Nigeria Plc N0.49, Access Bank Plc N0.28, Union Bank Nigeria Plc N0.24, Vitafoam Plc N0.20 among others.
Conversely, Longman Nigeria Plc recorded the most share price loss, dropping by N0.47 to close at N8.98 per share, Dangote Flour Mills Plc followed with a loss of N0.44 to close at N8.47 per share, while Avon Crowncaps and Containers Plc shed N0.40 to close at N7.65 per share.
Other share price losers include: Incar Plc N0.32, Skye Bank Plc N0.29, National Salt Company Plc N0.20, Diamond Bank Plc N0.10, Guaranty Trust Assurance Plc N0.09, Oceanic Bank International Plc N0.08, Intercontinental Bank Plc N0.08 among others.
Equity trading appreciated by 109.02 per cent, as a turnover of 558.5 million shares valued at N2.52 billion in 6,615 deals, in contrast to the previous dayâ€™s turnover of 267.2 million shares valued at N2.02 billion in 8,126 deals.
Transactions on the NSE was driven by Capital Oil Plc from the Second-Tier Securities segment of the market, accounting for 35.81 per cent of the market turnover, with 200.01 million shares valued at N124.0 million in seven deals.
The Banking sub-sector followed on the sectorial analysis, accounting for 165.43 million shares valued at N1.57 billion in 3,046 deals. First Bank of Nigeria Plc recorded the highest patronage in the sub-sector, trading 41.23 million shares valued at N577.64 million in 912 deals, United Bank for Africa Plc followed with the exchange of 36.57 million shares valued at N402.83 million in 315 deals and Access Bank Plc recorded 16.16 million shares valued at N117.15 million in 174 deals.
The Insurance sub-sector trailed, accounting for 25.18 per cent of the market turnover, with 140.64 million shares valued at N113.96 million in 1,412 deals.
AIICO Insurance Plc enjoyed the most patronage, trading 123.07 million shares valued at N103.09 million in 1,191 deals, followed by NEM Insurance plc with the exchange of 4.7 million shares valued at N2.51 million in 44 deals and Lasaco Assurance Plc recorded 3.36 million shares valued at N2.05 million in 26 deals.