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Bulls upstage bears, buoy share value by N13bn

By Michael Eboh  & Providence Obuh
The two-day bearish  run recorded on the Nigerian Stock Exchange (NSE) was halted, Tuesday, as the value of listed equities appreciated by N12.96 billion.

Specifically, equities’ value, represented by the market capitalisation rose by 0.19 per cent, from N6.657 trillion at which it opened to close at N6.670 trillion.

The All-share index garnered 53.34 basis points to close at 27,437.25 points from 27,383.91 points at which it opened
The improvement in the market indices was occasioned by gains on the prices of listed securities, led by Nestle Nigeria Plc with a gain of N11.00 to close at N325.00 per share, Oando Plc followed with a gain of N3.60 to close at N128.50 per share and Nigeria Breweries Plc garnered N1.29 to close at N71.50 per share.

Other share price gainers include: Flour Mills Nigeria Plc N0.92, Guaranty Trust Bank Plc N0.82, Okomu Oil Palm Plc N0.62, Ashaka Cement Plc N0.61, Benue Cement Company Plc N0.50, First Bank of Nigeria Plc N0.49, UAC Nigeria Plc N0.40, among others.

On the contrary, Lafarge Cement WAPCO Plc recorded the most share price loss, dropping by N1.99 to close at N40.91 per share, Cadbury Nigeria Plc followed with a loss of N1.70 to close at N32.31 per share and UAC Property Development Company Plc dipped by N1.13 to close at N21.52 per share.

Other share price losers include: Unilever Nigeria Plc N0.74, PZ Cussons Nigeria Plc N0.65, Longman Nigeria Plc N0.49, Zenith Bank Plc N0.45, Costain West Africa Plc N0.37, Diamond Bank Plc N0.35, May and Baker Nigeria Plc N0.29, among others.

Equity trading appreciated by 113.58 per cent, as a turnover of 602.48 million shares valued at N5.525 billion was recorded in 8,784 deals, in contrast to the previous day’s turnover of 282.08 million shares valued at N3.12 billion in 7,042 deals.

The banking sub-sector dominated the other sub-sectors, accounting for 25.01 per cent of the market turnover, with 150.71 million shares valued at N1.41 billion in 3,999 deals. Guaranty Trust Bank Plc recorded the highest patronage in the sub-sector, trading 20.81 million shares valued at N358.85 million in 571 deals, First Bank of Nigeria Plc followed with the exchange of 17.17 million shares valued at N258.49 million in 898 deals and Diamond Bank Plc recorded 14.87 million shares valued at N123.71 million in 81 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 10.24 per cent of the market turnover, with 61.73 million shares valued at N57.64 million in 466 deals. Universal Insurance Company Plc recorded the highest patronage in the sub-sector, trading 14.38 million shares valued at N7.19 million in 10 deals, NEM Insurance Company Nigeria Plc followed with the exchange of 6.58 million shares valued at N3.98 million in 40 deals and AIICO Insurance Plc recorded 6.03 million shares valued at N7.98 million in 141 deals.


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