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Share value dips further by N46bn

By Michael Eboh

Investors’ woes heightened, Tuesday, as the value of their investments on the Nigerian Stock Exchange (NSE) dipped further by N45.84 billion.

The market capitalisation, representing the total market value of listed equities, plunged by 0.92 per cent, from N4.998 trillion at which it opened, closing at N4.952 trillion.

The All-share index, another key market indices, also dipped by 0.92 per cent, shedding 192.69 basis points to close at 20,817.60 points from 21,010.29 points at which it opened.

The decline in the key market indices was occasioned by losses on the share prices of majority of the blue chip companies, led by Flour Mills Nigeria Plc with a loss of N1.75 to close at N33.25 per share, UAC Property
Development Company Plc followed with a loss of N1.05 to close at N20.07 per share and Benue Cement Company Plc dipped by N1.00 to close at N42.00 per share.

Other share price losers include: Lafarge Cement WAPCO Plc N0.90, UAC Nigeria Plc N0.85, Zenith Bank Plc N0.65, Ashaka Cement Plc N0.58, Inca Plc N0.46, Eterna Oil and Gas Plc N0.39, Nigerian Breweries Plc N0.30 among others.

PZ Cussons Nigeria Plc, on the other hand, recorded the most share price gain, rising by N0.57 to close at N25.36 per share, Union Bank Nigeria Plc followed with a gain of N0.30 to close at N6.37 per share and Skye Bank Plc garnered N0.27 to close at N5.73 per share.

Other share price gainers include: Access Bank Plc N0.20, Afribank Nigeria Plc N0.10, First City Monument Bank Plc N0.06, Ikeja Hotel Plc N0.05, Intercontinental WAPIC Insurance Plc N0.04, Niger Insurance Plc N0.03,
Transnational Corporation of Nigeria Plc N0.03 among others.

Equity trading, however, appreciated by 39.02 per cent, as a turnover of 363.46 million shares valued at N1.88 billion was recorded in 6,707 deals in contrast to the previous day’s turnover of 261.45 million shares valued at N1.8 billion in 5,807 deals.

The Banking sub-sector dominated the other sub-sectors, accounting for 55.21 per cent of the market turnover, 200.66 million shares valued at N1.23 billion in 3,729 deals. Fidelity Bank Plc recorded the highest patronage in the sub-sector, trading by 28.17 million shares valued at N64.51 million in 59 deals, Finbank Plc followed with the exchange of 25.75 million shares valued at N17.3 million in 76 deals and United Bank for Africa Plc recorded 18.46 million shares valued at N203.86 million in 369 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 26.92 per cent of the market turnover, 97.83 million shares valued at N60.5 million in 507 deals. Cornerstone Insurance Company Plc dominated trading in the sub-sector, trading 70.54 million shares valued at N40.54 million in 64 deals, AIICO Insurance Plc followed with the exchange of 6.25 million shares valued at N5.05 million in 147 deals, while

Law Union and Rock Insurance Plc recorded 4.39 million 2.23 million in 23 deals.


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