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NSE share value rises by N23bn

 By Michael Eboh & Providence Obuh
A bullish trend was recorded on the Nigerian Stock Exchange (NSE), last week, as the value of listed equities appreciated by N23.04 billion.

In particular, the market capitalisation, representing equities’ value, rose by 0.38 per cent to N6.141 trillion from N6.118 trillion at which it opened the week.

The All-share index, another key performance indicator, also appreciated by 69.44 basis points to close at 25,223.70 points from 25.154.26 points.

The improvement in the market indices was as a result of improvements in the prices of major blue chip companies and the listing of Union Homes Real Estate Investment Trust Plc’s entire share capital valued at N12.88 billion.

Union Homes Real Estate Investment Trust’s entire share shares, numbering 250.019 million was listed at N51.50 per share.

Also, 23 stocks appeared on the price gainers’ table in the week under review, led by Julius Berger Nigeria Plc, with a gain of N2.40 to close at N55.00 per share, Oando Plc followed with a gain of N1.99 to close at N74.99 per share and Flour Mills Nigeria Plc garnered N1.90 to close at N68.00 per share.

Other share price gainers include: Dangote Sugar Refinery Plc N1.85, Ashaka Cement Plc N1.60,  Conoil Plc N1.50, Cadbury Nigeria Plc N1.49, Lafarge Cement WAPCO Nigeria Plc N1.00, Dangote Flour Mills Plc N0.96, May & Baker Nigeria Plc N0.73 among others.

On the contrary,  Nestle Nigeria Plc led 50 other companies on the price losers’ category, dropping by N4.50 to close at N355.00 per share,  African Petroleum Plc followed with a loss of N0.97 to close at N35.61 per share and  Honeywell Flour Mills Plc dipped by N0.80 to close at N7.65 per share.

Other share price losers include: Okomu Oil Palm Plc N0.71, Aluminium Extrusion Industries Plc N0.65,  Zenith Bank Plc N0.55, First Bank of Nigeria Plc N0.54, International Breweries Plc N0.46, Eterna Oil and Gas Plc N0.46, United Bank for Africa Plc N0.34 among others.

Equity trading dropped by 31.9 per cent as a turnover of 1.11 billion shares valued at N9.84 billion in 29,892 deals, in contrast to the previous week’s turnover of 1.63 billion shares valued at N13.7 billion in 30,368 deals.

The Banking sub-sector dominated the other sub-sectors, accounting for 58.65 per cent of the market turnover, with 651.2 million shares worth N4.98 billion in 15,641 deals.

  First Bank of Nigeria Plc led the sub-sector trading 120.03 million shares valued at N1.58 billion in 3,652 deals, FinBank Plc followed with the exchange of 72.45 million shares valued at N37.35 million in 238 deals and Fidelity Bank Plc recorded 51.64 million shares valued at N133.18 million in 586 deals. 

The Insurance sub-sector followed on the sectorial analysis, accounting for 11.9 per cent of the market turnover, with 131.5 million shares valued at N132.25 million in 1,521 deals. Goldlink Insurance Plc was the most active in the sub-sector trading 21.18 million shares valued at N13.76 million in 73 deals, AIICO Insurance Plc followed with the exchange of 20.67 million shares valued at N25.63 million in 468 deals and International Energy Insurance Plc recorded 16.86 million shares valued at N8.53 million in 139 deals.


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