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Trading normalises, share value dips by N137bn

By Michael Eboh

Trading on the Nigerian Stock Exchange (NSE) normalised, Tuesday, as the value of listed equities, driven by losses on the share prices of blue chip companies, dipped by N136.83 billion.

It would be recalled that trading was disrupted Monday, following technical hitches, which made it impossible for trading, which is supposed to commence by 9:30a.m, to be delayed until about 6:30 p.m. that same day.
According to the NSE, the disruption was caused by a default in the power supply panel in its trading engine. The fault was rectified same day and trading returns to normalcy Tuesday.

The decline in the value of listed equities, was occasioned by a depreciation in the key market indicators, the market capitalisation and All-share index, with both dropping by 2.24 per cent each.
In particular, the index opened which opened at 26,764.39 points shed 599.97 basic points  to close at 26,164.42 points, while the capitalisation dipped by N136.83 billion to close at N5.966 trillion from N6.103 trillion at which it opened.

First Bank of Nigeria Plc led other blue chip stocks on the losers’ table, dropping by N1.09 to close at N20.91 per share, Nigerian Breweries Plc followed with a loss of N1.00 to close at n49.00 per share and PZ Cussons Nigeria Plc dipped by N0.89 to close at N18.32 per share.
Other share price losers include: Union Bank Nigeria Plc N0.87, Zenith Bank Plc N0.73, GTBank Plc N0.72, Flour Mills Nigeria Plc N0.70, United Bank for Africa Plc N0.57, Ecobank Transnational Incorporated N0.60, Ashaka Cement Plc N0.50 among others.

On the other hand, Guinness Nigeria Plc recorded the most share price gain, rising by N2.94 to close at N128.00 per share, Nigerian Bottling Company Plc followed with a gain of N1.12 to close at N23.61 per share and Lafarge Cement WAPCO Plc garnered N0.98 to close at N27.75 per share.
Other share price gainers include: Unilever Nigeria Plc N0.67, Dangote Sugar Refinery Plc N0.67, Benue Cement Company Plc N0.60, Julius Berger Nigeria Plc N0.60, Glaxo SmithKline Consumer Plc N0.44, RT. Briscoe Nigeria Plc N0.28, Oceanic Bank International Plc N0.20 among others.

A significant improvement was recorded in equity trading, as a turnover of 348.99 million shares valued at N3.32 billion was recorded in 11,168 deals, representing an increase of 688.7 per cent from the previous day’s turnover of 44.25 million shares valued at N405.5 million in 934 deals.

The Banking sub-sector dominated the other sub-sectors, accounting for 62.27 per cent of the market turnover, with 217.33 million shares valued at N2.43 billion in 6,662 deals. Zenith Bank Plc recorded the highest transaction in the sub-sector, trading 37.76 million shares valued at N529.47 million in 456 deals, United Bank for Africa Plc followed with the exchange of 25.99 million shares valued at N342.52 million 535 deals and First Bank of Nigeria Plc recorded 24.84 million shares valued at N530.45 million in 1,684 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 14.81 per cent of the market turnover, with 51.71 million shares valued at N53.01 million in 1,087 deals. AIICO Insurance Plc emerged the most active in the sub-sector, trading 14.51 million shares valued at N15.74 million in 431 deals, followed by Sovereign Trust Insurance Plc with a turnover of 5.12 million shares valued at N6.42 million in 124 deals and Great Nigeria Insurance Plc recorded 4.09 million shares valued at N3.27 million in six deals.


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