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Bears return, deflate share value by N20bn

By Providence Obuh
Transaction on the Nigerian Stock Exchange (NSE) resumed the week on a bearish note as equities’ value, represented by the market capitalisation, dipped Monday, by N19.69 billion.

In particular, the indices used in measuring the performance of listed equities — the market capitalisation and All share index both dipped by 0.32 per cent each.

The capitalisation closed at N6.057 trillion from N6.076 trillion at which it opened, while the index shed 80.5 bases point to close at 24,766.14 points.

The decline in equities’ value was occasioned by major losses on the share prices of blue chip companies, led by Flour Mills Nigeria Plc, with a los of N1.00 to close at N75.00 per share, Zenith Bank Plc followed with a loss of N0.49 to close at N12.50 per share and Nigerian Aviation Handling Company Plc dipped by N0.40 to close at N9.60 per share.

Other share price losers include: Nigerian Bottling Company Plc N0.35, First City Monument Bank Plc N0.34, Skye Bank Plc N0.26, Ecobank Nigerian Plc N0.20, Custodian and Allied Assurance Plc N0.13,Union Bank Nigeria Plc N0.12, Access Bank Plc N0.11, among others.

On the contrary, Nigeria Breweries Plc recorded the most share price gain rising by N0.44 to close at N65.90 per share, Guaranty Trust Assurance Plc followed with gain of N0.36 to close at N17.44 per share and Ashaka Cement Plc garnered N0.31 to close at N17.33 per share.

Other share price gainers include: UAC Nigeria Plc N0.25, Dangote Sugar Refinery Plc N0.20, Red Star Express Plc N0.18, Unilever Nigeria Plc N0.16, Jos Breweries Plc N0.15, Dangote Flour Mill Plc N0.12, Diamond Bank Plc N0.10, among others.

Equity trading plunged by 21.26 per cent as a turnover of 346.87 million shares valued at N1.98 billion was recorded in 5,242 deals, in contrast to Friday’s turnover of 440.54 million shares valued at N1.95 billion in 5,544 deals.

The Insurance sub-sector dominated the other sub-sectors on the sectorial analysis, accounting for 56.79 per cent of the market turnover with 197 million shares valued at N207.89 million in 180 deals.

Niger Insurance Company Plc was the most active in the sub-sector, trading 180.20 million shares valued at N194.61 million in 6 deals, African Alliance Insurance Plc followed with the exchange of five million shares valued at N2.50 million in one deal and Goldlink Insurance Plc recorded 2.99 million shares valued at N1.81 million in 21 deals.

The Banking sub-sector followed on the sectorial analysis, accounting for 28.05 per cent of the market turnover, with 97.29 million shares valued at N901.26 million in 2,804 deals.

Zenith Bank Plc enjoyed the highest patronage in the sub-sector, trading 29.51 million shares valued at N372.68 million in 433 deals, Guaranty Trust Bank Plc followed with the exchange of 13.04 million shares valued at N224.48 million in 452 deals, First Bank of Nigeria Plc recorded 6.40 million shares valued at N84.28 million in 561 deals.


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