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NSE market value soars by N290bn

By Michael Eboh & Chinedu Ibeabuchi

The value of listed equities on the Nigerian Stock Exchange (NSE) appreciated last week by N290.32 billion.
Specifically, the rally was brought about by gains on the share prices of listed equities, which buoyed key market indicators, the All-share index and market capitalisation by 4.93 per cent each.

The capitalisation rose by N290.32 billion to close at N6.177 trillion from N5.886 trillion at which it opened the week, while the index garnered 1,272.62 basis points to close at 27,086.56 points from 25,813.55 points.
Three Petroleum (Marketing) stocks, Oando Plc, Total Nigeria Plc and Mobil Oil Nigeria Plc led the market rally, as they recorded significant improvements on their share price. Oando led the share price gainers, rising by N6.24 to close at N91.89 per share, Total followed with a gain of N5.95 to close at N175.00 per share and Mobil garnered N5.88 to close at N123.87 per share.

Other share price gainers include: UAC Nigeria Plc N5.28, Julius Berger Nigeria Plc N4.46, UAC Property Development Company Plc N2.99, GTBank Plc N2.52, Ashaka Cement Plc N2.27, Nigerian Bottling Company Plc N2.10, First Bank of Nigeria Plc N2.01 among others.
On the contrary, African Petroleum Plc recorded the most share price loss, in the week under review, dropping by N5.26 to close at N94.93 per share, Nestle Nigeria Plc followed with a loss of N4.00 to close at N185.00 per share and Conoil Plc dipped by N3.51 to close at N57.99 per share.

Others in the share price losers’ category include: Intercontinental Bank Plc N2.79, Eterna Oil and Gas Plc N1.33, Access Bank Plc N0.61, Glaxo SmithKline Consumer Plc N0.55, Costain (West Africa) Plc N0.48, Tripple Gee and Company Plc N0.35, Dangote Flour Mills Plc N0.35 among others.
However, equity trading in the week under review, dipped by 10.98 per cent, as a  turnover of 2.35 billion shares valued at  N19.06 billion was recorded in 46,350 deals, in contrast to the previous week’s turnover of 2.64 billion shares valued at N20.64 billion in 36,728 deals.

The Banking sub-sector recorded the most patronage in the sectorial analysis, accounting for
55.74 per cent of the market turnover, with 1.31 billion shares valued at N13.93 billion in 27,412 deals. Access Bank Plc recorded the highest patronage in the sub-sector, trading 162.78 million shares valued at N1.36 billion in 1,811 deals, followed by First Bank of Nigeria Plc with the exchange of 135.6 million shares valued at N3.04 billion in 5,806 deals and Zenith Bank Plc recorded 133.81 million shares valued at N1.86 billion in 2,290 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 22.77 per cent of the market turnover, with 535.8 million shares valued at N548.33 million in 4,469 deals. Universal Insurance Plc recorded the highest transaction in the sub-sector, trading 72.68 million shares valued at N36.74 million in 303 deals, followed by International Energy Insurance Plc with the exchange of 55.12 million shares valued at N84.58 million in 277 deals and Lasaco Assurance Plc recorded 50.81 million shares valued at N46.39 million in 293 deals.


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