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Investments on NSE decline by N232bn

By Michael Eboh & Providence Obuh
A bearish trend was recorded in the Nigerian capital market, last week, as investors’ holdings on the Nigerian Stock Exchange (NSE) depreciated by N232.11 billion.

In particular, investors’ value, represented by the market capitalisation dropped by 3.44 per cent to close the week at N6.515 trillion from N6.747 trillion at which it opened.

The All-share index, another indices for measuring performance of listed equities, shed 3.49 per cent to close the week at 26,784.90 points from 27,753.13 points.

The decline was brought about by losses in the share prices of majority of the listed equities, as 95 stocks recorded share price loss, led by Oando Plc with a share price loss of N45.37 to close at N78.53 per share, followed by UACN Property Development Company Plc with a loss of N8.32 to close at N20.50 per share and Cadbury Nigeria Plc dipped by N5.15 to close at N29.69 per share.

Other share price losers include: Benne Cement Company Plc N3.99, Guinness Nigeria Plc N3.71, Julius Berger Nigeria Plc N3.55, Lafarge WAPCO Cement Plc N3.00, UAC Nigeria Plc N2.56, Unilever Nigeria Plc N2.29, African Petroleum Plc N2.19, among others.
On the contrary, 17 stocks recorded share price gain, led by Nestle Nigeria Plc with a gain of N27.00 to close at N341.00 per share, followed by Total Nigeria Plc with a gain of N6.00 to close at N242.00 per share and Chemical and Allied Products Plc garnered N3.18 to close at N34.33 per share.

Other share price gainers include: Seven-Up Bottling Company Plc N2.24, International Breweries Plc N1.20, University Press Plc N0.77, Flour Mills Nigeria Plc N0.70, Okomu Oil Palm Plc N0.62, Nigerian Breweries Plc N0.51, Skye Bank Plc N0.45, among others.

Equities trading dropped by 10.67 per cent, as a turnover of 2.01 billion shares valued at N20.5 billion was recorded in 47,444 deals, in contrast to the previous week’s turnover of 2.25 billion shares valued at N19.5 billion in 43,941 deals.

Banking stocks enjoyed the most patronage in the week under review, accounting for 39.55 per cent of the market turnover with 795.5 million shares valued at N7.97 billion in 17,368 deals.

First Bank of Nigeria Plc dominated trading in the sub-sector, with the exchange of 104.02 million shares valued at N1.54 billion in 3,898 deals, United Bank for Africa Plc followed with the trading of 98.02 million shares valued at N1.25 billion in 1,313 deals and Guaranty Trust Bank Plc accounted for 96.44 million shares valued at N1.65 billion in 2,365 deals.

The Insurance sub-sector followed on the sectorial analysis accounting for 12.99 per cent of the market turnover, with 260.9 million shares valued at N314.64 million in 2,270 deals.


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