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New listings buoy NSE share value by N46bn

By Chinedu Ibeabuchi & Providence Obuh

Amidst fluctuations in the major indices of the Nigerian Stock Exchange (NSE), the value of listed equities, buoyed by the listing of two companies with an entire share capital of N31.07 billion,  appreciated, Friday, by N46.24 billion.

Specifically, the key market indices represented by the market capitalisation and the All-share index appreciated by 0.94 per cent and 0.46 per cent respectively. The market capitalisation gained N46.24 billion to close at N4.961 trillion from N4.915 trillion at which it opened, while the All-share index rose by 63.55 points to close at 20,722.64 points from 20,659.09 points at which it opened.

This was occasioned by appreciation on the share prices of major blue chip companies, as thirty _ One (31) stocks appreciated in price during the week, same as in the preceding week, led by Flour Mills of Nigeria Plc with a gain of N5.30 to close at N39.80 per share, followed by UACN Property Development Company Plc gaining N1.96 to close at N20.96 per share and Union Bank of Nigeria Plc soared by N1.07 to close at N5.99 per share.

Other share price gainers’ include: Nestle Nigeria Plc N1.00, Nigerian Bottling Company Plc N0.92, Julius Berger Nigeria Plc N0.90, United Bank for Africa Plc N0.70, Vitafoam Nigeria Plc N0.60, UAC of Nigeria Plc N0.49 and Benue Cement Company Plc N0.49, among others.

On the contrary, Fifty_Nine (59) stocks depreciated in price during the week, lower than the sixty_four (64) of the preceding week led by Incar Nigeria Plc dropping by N1.25 to close at N5.56 per share while Nigerian Breweries Plc followed depreciating by N0.77 to close at N52.01 per share and BOC Gases Plc lost N0.70 to close at N13.48 per share.

Other price losers include: Nigerian Aviation Handling Company Plc N0.69, Portland Paints & Products Nigeria Plc  N0.60, Cadbury Nigeria Plc N0.58, Dangote Flour Mills Plc N0.57, Avon Crowncaps & Containers Plc N0.40, Ashaka Cement Plc N0.40 and Intercontinental Bank Plc N0.36, among others.

Equity trading recorded a significant appreciation, in the week under review, rising by 41 per cent, as a turnover of 2.2 billion shares valued at N10.95 billion was recorded in 31,562 deals in contrast to the previous week’s turnover of 1.56 billion shares valued at N12.14 billion exchanged in 31,232 deals.

The Insurance sub-sector was the most active during the week under review, with 880.9 million shares valued at N1.35 billion exchanged by investors in 5,690 deals. Volume in the Insurance sub-sector was largely driven by activity in the shares of Guaranty Trust Assurance Plc and AIICO Insurance Plc.  Trading in the shares of the two Insurance Companies accounted for 790.2 million shares, representing 89.7% of the sub-sector’s turnover.

The Banking sub-sector, boosted by activity in the shares of First City Monument Bank Plc and First Bank of Nigeria Plc, followed on the week’s activity chart with a turnover of 760.32 million shares valued at N6.12 billion in 14,142 deals.


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