The declining trend on the Nigerian Stock Exchange (NSE) worsened, Tuesday, as the value of investments on the Nigerian Stock Exchange (NSE) dipped by N119.8 billion.
In particular, investment value represented by the market capitalisation, dropped by 1.87 per cent to N6.301 trillion from N6.421 trillion at which it opened.
The All-share index, another major indices for measuring performance of listed equities, shed 492.5 basis points or 1.87 per cent to close at 25,908.12 points.
The decline in the indices was brought about by losses on the share prices of majority of the listed equities, with only 18 stocks recording share price appreciation.
Benue Cement Company Plc led 55 other stocks on the price losersâ€™ table, dropping by N3.30 to close at N62.71 per share, Flour Mills Nigeria Plc followed with a loss of N1.60 to close at N68 per share and Lafarge Cement WAPCO Plc dipped by N1.50 to close at N38.50 per share.
Other share price losers include: Guinness Nigeria Plc N1.10, Dangote Flour Mills Plc N1.10, Ashaka Cement Plc N1.02, Nigerian Breweries Plc N0.98, Cement Company of Northern Nigeria Plc N0.88, Unilever Nigeria Plc N0.80, Ecobank Transnational Incorporated N0.76 among others.
On the contrary, Chemical and Allied Product Plc recorded the most share price gain, rising by N1.22 to close at N25.76 per share, UAC Nigeria Plc followed with a gain of N0.63 to close at N41.99 per share and BOC Gases Plc garnered N0.51 to close at N10.71 per share.
Other share price gainers include: International Breweries Plc N0.27, Airline Service and Logistics Plc N0.15, Glaxo SmithKline Consumer Plc N0.12, Starcomms Plc N0.11, Intercontinental Bank Plc N0.09, BankPHB Plc N0.06, Nigerian Wire and Cable Plc N0.05 among others.
Equity trading, however, appreciated by 28.05 per cent, as a turnover of 412.99 million shares valued at N4.54 billion was recorded in 17,002 deals, in contrast to the previous dayâ€™s turnover of 322.53 million shares valued at N2.66 billion in 18,533 deals.
Stocks in the banking sub-sector enjoyed the most patronage in the sectorial analysis, as trading in the sub-sector accounted for 51.26 per cent of the market turnover, 211.69 million shares valued at N1.9 billion in 4,116 deals.
First Bank of Nigeria Plc emerged the most active in the sub-sector, trading 36.35 million shares valued at N510.98 million in 1,004 deals, GTBank Plc followed with the exchange of 22.8 million share valued at N379.27 million in 562 deals and Zenith Bank Plc recorded 19.94 million shares valued at N275.96 million in 528 deals.
The Insurance sub-sector followed on the sectorial analysis, accounting for 17.6 per cent of the market turnover, with 72.7 million shares valued at N82.66 million in 410 deals.