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Blue chips’ loss further depresses market value by N102bn

By Michael EbohBy Michael Eboh
Occasioned by losses on the share prices of majority of the listed equities, the value of listed equities on the Nigerian Stock Exchange (NSE) dipped, Tuesday, by N102.18 billion.

Particularly, the value of listed equities, represented by the market capitalisation, dropped by 1.93 per cent to close at N5.195 trillion from N5.297 trillion at which it opened.

The All-share index, another key market indicator, also depreciated by 1.93 per cent, shedding 445.74 basis points to close at 22,664.29 points from 23,110.03 points at which it opened.

Skye Shelter Fund Plc, which recently announced its year end financial results, recorded the most share price loss, dropping by N5.27 to close at N100.19 per share, Oando Plc followed with a loss of N1.81 to close at N85.70 per share and Lafarge Cement WAPCO Plc dipped by N1.32 to close at N25.36 per share.

Other share price losers include: Eterna Oil and Gas Plc N1.08, UAC Property Development Company Plc N0.84, First Bank of Nigeria Plc N0.75, Dangote Sugar Refinery Plc N0.72, Union Bank Nigeria Plc N0.65, Zenith Bank Plc N0.57, Ashaka Cement Plc N0.50 among others.

On the contrary, UAC Nigeria Plc recorded the most share price gain, rising by N0.67 to close at N38.19 per share, Unilever Nigeria Plc followed with a gain of N0.54 to close at N11.39 per share and Guinness Nigeria Plc garnered N0.50 to close at N130.50 per share.

Other share price gainers include: Nigerian Aviation Handling Company Plc N0.36, United Bank for Africa Plc N0.35, GTBank Plc N0.31, RT. Briscoe Plc N0.24, Custodian and Allied Insurance Plc N0.04, May & Baker Nigeria Plc N0.04, Aso Savings and Loans Plc N0.03 and Capital Oil Plc N0.01.

Equity trading, however, appreciated by 28.17 per cent, as a turnover of 305.85 million shares valued at N2.29 billion was recorded in 6,697 deals, in contrast to the previous day’s turnover of 238.63 million shares valued at N1.90 billion in 5,495 deals.

Stocks in the Banking sub-sector remained the toast of investors, accounting for 52.72 per cent of the market turnover, with 161.25 million shares valued at N1.47 billion in 3,406 deals.

Zenith Bank Plc enjoyed the most patronage in the sub-sector, trading 45.7 million shares valued at N499.66 million in 300 deals, followed by United Bank for Africa Plc with the exchange of 26.78 million shares valued at N271.83 million in 525 deals and GTBank Plc recorded 24.77 million shares valued at N331.01 million in 521 deals.


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