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Equities’ value dips further by N93bn

By Michael Eboh and Providence Obuh
The declining trend on the Nigerian Stock Exchange (NSE) continued, Monday, as the value of listed equities dipped further by N93.47 billion.

In particular,  equities’ value, represented by the market capitalisation, dropped by 1.43 per cent to close at N6.421 trillion from N6.515 trillion at which it opened.

The All-share index shed 384.28 basis points to close at 26.400.62 point from 26.784.90 point at which it opened.
Nigeria Breweries Plc led 52 other companies in the share price losers table, dropping by N2.03 to close at 69.98 per share, followed by Glaxo Smithkline Consumer Plc with a loss of N1.37 to close at N26.18 per share and Ashaka Cement Plc dipped by N1.07 to close at N20.41 per share.

Other share price losers include: Cement Company of Northern Nigeria Plc N1.00, UAC Property Development Company Plc N1.00, Dangote Flour Mills Plc N0.78, Zenith Bank Plc N0.76, Cadbury Nigeria Plc N0.69, Dangote Sugar Refinery Plc N0.62, Nigeria Aviation Handling Company Plc N0.61, among others.

Conversely, Nestle Nigeria Plc recorded the most share price gain, rising by N17.05 to close at N358.05 per share, followed by Oando Oil Plc with a gain of N3.12 to close at N81.65 per share and Seven-Up Bottling Company Plc garnered N2.35 to close at N49.49 per share.

Other share price gainers include: Stanbic IBTC Bank Plc N0.52, Costain (West Africa) Plc N0.31, International Breweries Plc N0.28, Union Bank Nigeria Plc N0.23,Custodian and Allied Insurance Plc N0.17 to close at N3.67 per share, RT Briscoe Plc N0.15 to close at N4.63 per share, Airline Services and Logistics Plc N0.14 to close at N3.03 per share, among others.

Equities trading dropped by 27.18 per cent, as a turnover of 322.52 million shares valued at N2.65 billion was recorded in 18,533 deals, in contrast to Friday’s turnover of 442.94 million shares valued at N4.18 billion in 7,288 deals.

The Banking sub-sector recorded the highest patronage on the sectorial analysis, accounting for 39.81 per cent of the market turnover with 128.40 million shares valued at N1.288 billion in 3,504 deals.  Guaranty Trust Bank Plc stocks were the most after in the sub-sector, trading 27.57 million shares valued at N455.12 million in 554 deals, First Bank of Nigeria Plc followed with the exchange of 17.89 million shares valued at N256.62 million in 762 deals and Fidelity Bank Plc recorded 13.07 million shares valued at N37.18 million in 151 deals.

The Insurance sub-sector trailed on the sectorial analysis, accounting for 15.94 per cent of the market turnover, with 51.41 million shares valued at N62.50 million in 404 deals.  Continental Reinsurance Plc recorded the most patronage in the sub-sector trading 23.35 million shares valued at N26.47 million in 56 deals.


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