By Michael Eboh
A marginal increaseÂ was recorded on the Nigerian Stock Exchange (NSE), Wednesday, as the value of listed equities appreciated by N6.79 billion.
In particular, equitiesâ€™ value, represented by the market capitalisation, appreciated by 0.11 per cent to close the dayâ€™s trading at N6.049 trillion from N6.042 trillion, while the All-share index rose by 10.08 basis points to close at 25,015.71 points from 25,005.63 points.
The slowdown was occasioned by decline in the prices of major banking and oil and gas stocks. The NSE Banking index, comprising major banking stocks, depreciated by 1.05 per cent to close at 420.20 points while the NSE Oil/Gas index shed 1.3 per cent to close at 299.79 points.
On the contrary, the NSE Food/Beverage index appreciated by 0.28 per cent to close at 693.99 points, while the NSE Insurance index rose by 0.33 per cent to close at 205.99 points. The NSE 30 index, comprising major blue chip companies, appreciated by 0.15 per cent to close at 1,006.53 points.
The improvement on the indices was brought about by the listing of 45.2 million shares of African Petroleum Plc, being the remaining portion of shares from its recently concluded rights issue and 4.59 billion ordinary shares of African Alliance Insurance Plc, following the conclusion of the companyâ€™s private placement exercise, undertaken a couple of months ago.
Benue Cement Company Plc recorded the most share price gain, rising by N2.97 to close at N62.47 per share, Flour Mills Nigeria Plc followed with a gain of N1.99 to close at N52.99 per share and Lafarge Cement WAPCO Plc garnered N1.60 to close at N33.60 per share.
Other share price gainers include: PZ Cussons (Nigeria) Plc N1.42, UAC Property Development Company Plc N1.00, Julius Berger Nigeria Plc N0.87, Beta Glass Company Plc N0.67, Nigerian Aviation Handling Company Plc N0.47, Ashaka Cement Plc N0.43, May & Baker Nigeria Plc N0.25 among others.
On the other hand, African Petroleum Plc recorded the most share price loss, dropping by N2.27 to close at N43.13 per share, Cadbury Nigeria Plc followed with a loss of N0.89 to close at N17.81 per share and Oando Plc shed N0.80 to close at N80.20 per share.
Other share price losers include: Alumaco Plc N0.61, GTBank Plc N0.60, Diamond Bank Plc N0.47, Longman Nigeria Plc N0.43, Dangote Flour Mills Plc N0.27, Unilever Nigeria Plc N0.25, RT. Briscoe Plc N0.23 among others.
Equity trading appreciated by 13.56 per cent as a turnover of 522.85 million shares valued at N4.06 billion in 10,451 deals, in contrast to the previous dayâ€™s turnover of 460.43 million shares valued at N4.17 billion in 8,118 deals.
Banking stocks remained the most active in the sectorial analysis, accounting for 44.1 per cent of the market turnover, with 230.58 million shares valued at N2.16 billion in 4,168 deals. Ecobank Nigeria Plc recorded the highest patronage in the sub-sector, trading 36.4 million shares valued at N258.02 million in 89 deals, Fidelity Bank Plc followed with the exchange of 27.47 million shares valued at N92.67 million in 403 deals and United Bank for Africa Plc recorded 25.04 million shares valued at N367.22 million in 265 deals.
The Insurance sub-sector followed on the sectorial analysis, accounting for 24.63 per cent of the market turnover, with 128.79 million shares valued at N102.57 million in 881 deals. Law Union and Rock Insurance Plc dominated trading in the sub-sector, as its investors exchanged 77.49 million units of its shares valued at N38.8 million in 44 deals, followed by Cornerstone Insurance Company Plc trading 9.32 million shares valued at N5.13 million in 24 deals and Guaranty Trust Assurance Plc recorded 7.14 million shares valued at N21.69 million in 75 deals.