Investors suffer 111bn dimolition in stocks’
By Providence Obuh
Investors on the Nigerian Stock Exchange (NSE) last week lost a reasonable value of their investment on stocks, as equities value represented by the market capitalisation depreciated by N111.25 billion.
Specifically, the capitalisation dropped by 1.40 per cent to close at N7.859 trillion from N7.970 trillion at which it opened the week.under review. Another key performance indices, the All share index declined by 1.40 per cent or 348.39 bases points to close at 24,611.56 points from 24,959.95 points.
Guinness Nigeria Plc which led 61 other stocks on the losers’ table, dropped by N18.30 to close at N170.50 per share, MRS Oil Nigeria Plc followed with a loss of N7.96 to close at N73.74 per share and Cadbury Nigeria Plc dipped by N1.80 to close at N27.20 per share.
Other share price losers include: African Petroleum Plc N1.23, Flour Mills of Nigeria Plc N1.00, Nigerian Breweries Plc N0.93, International Breweries Plc N0.90, Nigeria Bottling Company Plc N0.80, Costain West Africa Plc N0.65, United Bank for Africa Plc N0.61, among others.
On the other hand, Total Nigeria Plc led on the gainers’ table with a gain of N10.73 to close at N225.35 per share, Nestle Nigeria Plc followed with a gain of N2.00 to close at N397.00 per share and UAC of Nigeria Plc garnered N1.00 to close at N40.00 per share.
Other share price gainers’ include: University Press Plc N0.73, 7-Up Bottling Company Plc N0.53,
Lafarge Cement WAPCO Nigeria Plc N0.51, Mobil Oil Nigeria Plc N0.50, Oando Plc N0.50, Eterna Oil and Gas Plc N0.46, Dangote Flour Mills Plc N0.28, among others.
Activities appreciated by 60.68 per cent, as a turnover of 1.61 billion shares valued at N13.504 billion in 28,935 deals was recorded in the week under review, in contrast to penultimate week turnover of 1.002 billion shares valued at N9.98 billion in 19,493 deals.
The Banking sub-sector was the most active on the sectorial analysis accounting for 68.94 per cent of the market turnover with 1.11 billion shares valued at N8.42 billion in 16,897 deals. Zenith Bank Plc enjoyed the highest patronage trading 185.23 million shares valued at N2.77 billion in 1,757 deals.
First Bank of Nigeria Plc followed with the exchange of 87.06 million shares valued at N1.13 billion in 3,679 deals and Skye Bank Plc recorded 79.14 million shares valued at N644.49 million in 804 deals.
The Insurance sub-sector followed on the sectorial analysis accounting for 6.27 per cent of the market turnover with 101.24 million shares valued at N85.44 million in 1,147 deals. Guaranty Trust Assurance Plc dominated activity in the sub-sector trading 14.34 million shares valued at N24.56 million in 81deals,
