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Share value soars by N70bn in 5 days

By Michael Eboh & Providence Obuh
Driven by significant improvement in the share prices of listed companies on the Nigerian Stock Exchange (NSE), the market capitalisation, representing the value of listed equities, in 5 days trading appreciated to close last week by N69.62 billion.

The capitalisation which opened the week under review at N8.104 trillion rose by 0.86 per cent to close at N8.174 trillion.
The All-share index also recorded significant improvement, rising by 227.4 basis points to close at 25,585.24 points from 25,357.84 points at which it opened

The improvement is coming on the heels of a steady decline in the market indices, which saw the total value of listed equities shed N193.538 billion within the last two weeks.

According to analysts, the improvement recorded in the market last week, could be as a result of investors optimism of a rebound in the market, following the continuous plunge in the market in the last couple of days.

Another factor for the improvement, according to a stockbroker who spoke on the condition of anonymity, is the expectation of significant and improved earnings of companies, especially as a number of companies are expected to start turning in their financial statement in the next couple of days.

Ashaka cement Plc led 39 other stocks on the gainers’ table with a gain of N3.40 or 13.28 per cent to close at N29.00 per share, Dangote Flour Mills Plc followed with a gain of N2.39 or 15.31 per cent to close at N18.00 per share and GlaxoSmithKline Consumer Nigeria Plc garnered N1.74 or 6.57 per cent to close at N28.24 per share.

other share price losers include: Flour Mills of Nigeria Plc N1.51, Dangote Cement Plc N1.00,
Unilever Nigeria Plc N 0.85, UAC of Nigeria Plc N0.80, Guaranty Trust Bank Plc N0.71, First City Monument Bank Plc N0.67, Access Bank Plc N0.52, among others.
On the other hand, Julius Berger Nigeria Plc led 46 other stocks on the price losers’ table, dropping by N2.80 or 5.46 per cent to close at N48.50 per share, Oando Plc followed with a loss of N1.98 or 3.00 per cent to close at N63.97 per share and Nigerian Bottling Company Plc dipped by N1.94 or 4.98 per cent.
Other share price losers include: Cadbury Nigeria Plc N1.49, African Petroleum Plc N1.24,
Nestle Nigeria Plc N1.05, Guinness Nigeria Plc N1.00, Ecobank Transnational Incorporation Plc N0.65, Aluminium Extrusion Industries Plc N0.58, Honeywell Flour Mills Plc N0.42, among others.

A turnover of 1.911 billion shares valued at N10.2 billion was recorded in 35,515 deals as trading appreciated by 39.18 per cent , in contrast to the previous weeks turnover of 1.373 billion shares valued at N9.63 billion exchanged in 29,955 deals.

The Banking sub-sector was the most active during the week accounting for 45.99 per cent, (measured by turnover volume); with 879.97 million shares valued at N5.56 billion exchanged by investors in 15,866 deals. Volume in the Banking sub-sector was largely driven by activity in the shares of Zenith Bank Plc trading 84.54 million shares valued at N1.28 million in 2,127 deals, Oceanic Bank International Plc followed with the exchange of 74.59 million shares valued at N147.73 million in 668 deals and Finbank Plc recorded 67.70 million shares valued at N49.40 million in 458 deals and Wema Bank Plc.


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