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Bears return as investors lose N62bn on NSE

By Michael Eboh & Providence Obuh
A bearish trend was recorded in trading on the Nigerian Stock Exchange (NSE) last week, as the value of listed equities dropped by1.1 per cent.

To this end, investors lost N61.92 billion, as the value of their investment, represented by the market capitalisation, dropped by 1.11 per cent to close the week at N5.531 trillion from N5.593 trillion at which it opened. The All-share index, another performance indices also dipped by 1.12 per cent to close at 22,967.26 points from 23,226.28 points.

The decline in the major performance indices was occasioned by significant loss suffered by majority of the listed stocks. 64 stocks recorded share price losses, with Total Nigeria Plc leading the pack, with a loss of N7.50 to close at N142.50 per share, Chemical & Allied Products Plc followed with a loss of N2.73 to close at N25.27 per share and Nestle Nigeria Plc dipped by N2.00 to close at N268.00 per share.

Other share price losers in the week under review include: BOC Gases Plc N1.63, Ecobank Nigeria Plc N1.49, Nigerian Bottling Company Plc N1.40, UAC Nigeria Plc N1.39, African Petroleum Plc N1.37, Okomu Oil Palm Plc N1.13, UACN Property Development Company Plc N1.00 among others.

On the contrary, 31 stocks recorded share price appreciation, with Flour Mills Nigeria Plc recording the most gain, rising by N3.99 to close at N42.00 per share, Nigerian Breweries Plc followed with a gain of N3.00 to close at N60.00 per share and Ashaka Cement Plc garnered N1.04 to close at N16.00 per share.
Other share price gainers include: Nigeria Plc N1.00, Guinness Nigeria Plc N0.98, Dangote Flour Mills Plc N0.62, Cadbury Nigeria Plc N0.49, Presco Plc N0.44, Guaranty Trust Bank Plc N0.44, RT Briscoe (Nigeria) Plc N0.33 among others.

The declining trend continued in equity trading, as a turnover of 1.9 billion shares valued at N14.45 billion was recorded in the week under review in 34,643 deals, dropping by 30.4 per cent from the previous week’s turnover of  2.73 billion shares valued at N18.94 billion in 36,457 deals.

The Banking sub-sector recorded the highest transaction, accounting for 50.42 per cent of the market turnover.  Trading in the sub-sector was driven by increased activity in the shares of Access Bank Plc, with the exchange of 118.18 million shares valued at N1.06 billion in 1,262 deals, Zenith Bank Plc followed with the trading of 107.63 million shares valued at N1.7 billion in 1,242 deals and First Bank of Nigeria Plc recorded 97.93 million shares valued at N1.46 billion in 4,430 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 15.26 per cent of the market turnover, with 290.9 million shares valued at N341.5 million in 2,459 deals. Custodian and Allied Insurance Plc emerged the most active in the sub-sector, trading 45.04 million shares valued at N133.94 million shares valued at 140 deals, Lasaco Assurance Plc followed with the exchange of 44.8 million shares valued at N23.52 million in 292 deals and AIICO Insurance Plc recorded 29.05 million shares valued at N32.15 million in 715 deals.


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