ByÂ Michael Eboh & Chinedu Ibeabuchi
THERE was reversal ofÂ Â fortunes in the Nigerian capital market last week, as investors lost N138.3 billion on their investment in the Nigerian Stock Exchange (NSE).
This was after a significant improvement growth recorded in the market indices, especially in the share prices of majority of the listed equities. Investorsâ€™ agony was compounded by a dip in the value of listed equities, brought about by losses on the share prices of quoted companies.
Particularly, the indices for measuring the value of quoted securities on the NSE, the All-share index and market capitalisation, both dipped in the week under review by 5.16 per cent and 2.05 per cent respectively.
The index which opened the week at 29,700.24 points dipped by 1,531.35 basis points to close at 28,168.89 points, while the capitalisation dipped by N138.3 billion to close at N6.621 trillion from N6.759 trillion at which it opened the week.
Zenith Bank Plc recorded the most share price loss, dropping by N9.00 to close at N17.46 per share, Oando Plc followed with a loss of N6.50 to close at N90.00 per share and Benue Cement Company Plc dipped by N6.23 to close at N30.42 per share per share.
Other share price losers include: Guinness Nigeria Plc N3.50, Mobil Oil Nigeria Plc N2.60, Union Bank Nigeria Plc N2.57, Ashaka Cement Plc N2.51, Conoil Plc N1.81, Nigerian Aviation Handling Company Plc N1.59, United Bank for Africa Plc N1.54 among others.
On the contrary, Total Nigeria Plc recorded the most share price gain, rising by N7.50 to close at N157.50 per share, followed by Julius Berger Nigeria Plc N5.56 to close at N41.66 per share and African Petroleum Plc garnered N4.50 to close at N90.00 per share.
Other share price gainers include: Ecobank Transnational Incorporated N1.81, UAC Nigeria Plc N1.68, Chemical and Allied Products Plc N1.63, Unilever Nigeria Plc N1.34, First City Monument Bank Plc N1.23, Lafarge Cement WAPCO Plc N0.97, Cadbury Nigeria Plc N0.90 among others.
Equity trading in the week under review appreciated by 64.84 per cent as a turnover of 2.98 billion shares valued at N26.9 billion 57,553 deals, in contrast to the previous weekâ€™s turnover of 1.82 billion shares valued at N13.42 billion in 30,869 deals.
The Banking sub-sector, dominated the other sub-sectors, accounting for 50 per cent of the market turnover, with 1.5 billion shares valued at N19.22 billion in 33,388 deals. Access Bank Plc emerged the most active in the sub sector, trading 183.94 million shares valued at N1.82 billion in 2,239 deals, followed by First Bank of Nigeria Plc with the exchange of 159.41 million shares valued at N3.78 billion in 6,408 deals and Zenith Bank Plc recorded 137.04 million shares valued at N3.68 billion in 2,886 deals.
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