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Investments on NSE drops by N229bn

By Michael Eboh & Providence Obuh
Investments on the Nigerian Stock Exchange (NSE), represented by the market capitalisation, recorded significant decline, last week, dropping by N229.06 billion.

In particular, the capitalisation which opened the week at N6.627 trillion depreciated by 3.46 per cent to close at N6.398 trillion.

The All-share index shed 947.01 basis points to close the week at 26,453.20 points from 27,400.21 points.
The dip in the market indices was occasioned by losses on the share prices of majority of the listed equities, led by Guinness Nigeria Plc with a loss of N13.03 per share to close at N152.08 per share, Julius Berger Nigeria Plc followed with a loss of N6.99 to close at N53.01 per share and Oando Plc dipped by N6.00 to close at N120.00 per share.

Other share price losers include: Glaxo SmithKline Consumer Nigeria Plc N4.95, Seven-up Bottling Company Plc N4.58, United Bank for Africa Plc N4.02, Okomu Oil Palm Plc N3.99, UAC Nigeria Plc N3.89, Cement Company of Northern Nigeria Plc N2.68, Northern Nigeria Flour Mills Plc N2.06, among others.

Conversely, Flour Mills Nigeria Plc recorded the most share price gain, rising by N2.49 to close at N73.99 per share, Chemical and Allied Products Plc followed with a gain of N1.48 to close at N31.15 per share and Nigerian Breweries Plc garnered N1.15 to close at N70.14 per share.

Other share price gainers include: Mobil Oil Nigeria Plc N1.13, DN Meyer Plc N0.66, African Petroleum Plc N0.60, Berger Paints Nigeria Plc N0.39, UACN Property Development Company Plc N0.36, Skye Bank Plc N0.35, Continental Reinsurance Plc N0.27, among others.

The declining trend continued in equities trading, as a turnover of turnover 24.11 billion shares valued at N21.9 billion was recorded in the week under review in 52,110 deals, dropping by 24.11 per cent from the previous week’s turnover of 3.36 billion shares valued at N35.81 billion in 52,110 deals.

The Banking sub-sector recorded the most patronage in the sectorial analysis, accounting for 50.98 percent of the market turnover, with 1.26 billion shares valued at  N12.54 billion in 20,300 deals. Stocks of Access Bank Plc were the most sought after in the sub-sector, recording a turnover of 183.77 million shares valued at N1.694 billion in 1,100 deals, followed by First Bank of Nigeria Plc with the exchange of 179.09 million shares valued at N2.839 billion in 6,526 deals, and Skye Bank Plc with the exchange of 134.99 million shares valued at N990.72 million in 982 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 24.12 percent of the market turnover, with 614.79 million shares valued at N515.44 million in 2,655 deals.  Unic Insurance Plc recorded the most patronage in the sub-sector, trading 127.07 million shares valued at N94.05 million in 52 deals.

followed by NEM Insurance Plc with the exchange of 56.87 million shares valued at N34.62 million in 233 deals and Mutual Benefit Assurance Plc with the exchange of 43.68 million shares valued at N22.59 million in 144 deals.


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