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Investments on NSE rises by N95bn

By Michael Eboh & Providence Obuh
The upsurge in the secondary segment of the Nigerian capital market continued, last week, as the value of investments on the Nigerian Stock Exchange (NSE) appreciated by N94.86 billion.

In particular, the value of investment on the NSE, represented by the market capitalisation, rose by 1.43 per cent to close the week at N6.747 trillion from N6.652 trillion at which it opened.

The All-share index also appreciated by 0.91 per cent to close the week at N27,753.13 points from 27,503.36 points at which it opened.

This was brought about by gains on the share prices of major blue chip companies, led by Total Nigeria Plc with a gain of N31.25 to close at N236.00 per share, Oando Plc followed with a gain of N9.35 to close at N123.90 per share and Cadbury Nigeria Plc garnered N7.52 to close at N34.84 per share.

Other share price gainers include: MRS Oil Nigeria Plc N7.14, Glaxo Smithkline Consumer (Nigeria) Plc N4.92, Julius Berger Nigeria Plc N4.55, African Petroleum Plc N3.89, UACN Property Development Company Plc N3.62, Benue Cement Company Plc N3.00, UAC Nigeria Plc N2.06 among others.

On the contrary, Mobil Oil Nigeria Plc recorded the most share price loss, dropping by N7.94 to close at N150.90 per share, Northern Nigeria Flour Mills Plc followed with a loss of N3.61 to close at N33.58 per share and Flour Mills Nigeria Plc dipped by N3.40 to close at N68.90 per share.

Other share price losers include: Nigerian Enamelware Company Plc N2.26, Ecobank Transnational Incorporated N1.61, Okomu Oil Palm Plc N1.54, Nigerian Breweries Plc N1.50, Chellerams Plc N1.06, Nigerian Aviation Handling Company Plc N0.94, Unilever Nigeria Plc N0.91 among others.

Equity trading, in the week under review, appreciated by 28.57 per cent as a turnover of 2.25 billion shares valued at N19.5 billion was recorded in 43,941 deals, in contrast to the previous week’s turnover of 1.75 billion shares valued at N17.11 billion in 25,710 deals.

Banking stocks were the most sought after, as it accounted for 39.73 per cent of the total market transactions, with the exchange of 893.56 million shares valued at N8.71 billion in 20,207 deals.  Skye Bank Plc was the most active in the sub-sector, trading 133.60 million shares valued at N1.19 billion in 1,307 deals, United Bank for Africa Plc followed with the exchange of accounting for 120.49 million shares valued at N1.565 billion in 1,723 deals and First Bank of Nigeria Plc recorded 92.09 million shares valued at N1.413 billion in 4,645 deals.

Insurance stocks followed behind the Banking stocks as it recorded 28.09 per cent of the market turnover with 631.98 million shares valued at N1.010 billion in 2,803 deals.  Guaranty Trust Assurance Plc recorded the most patronage in the sub-sector trading 275.13 million shares valued at N716.23 million in 312 deals.


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