By Michael Eboh and Providence Obuh
Equities’ value on the Nigerian Stock Exchange (NSE)  ended last week on a bearsh note as   market capitalisation slide N184.4 billion.

The capitalisation dipped by 2.93 per cent to close at N6.110 trillion from N6.294 trillion at which it opened the week.  Another key performance indices the All share index shed 2.93 per cent, dipped by 753.99 points to close at 24,984.80 points from 25,738.79 points at which it opened.

The declining trend that persisted last week was occasioned by highly capitalised stocks of major blue chip company, led by Nigerian Breweries Plc with a loss of N7.04 to close at N68.01 per share, Flour Mills of Nigeria Plc followed with a loss of N1.99 to close at N74.01 per share and UAC of Nigeria Plc dipped by N1.90 to close at N40.10 per share.

Other share price losers include, Dangote Sugar Refinery Plc N1.70, UACN Property Development Company Plc N1.44, Cement Company of Northern Nigeria Plc N1.28, Benue Cement Company Plc N1.01, Julius Berger Nigeria Plc N1.00, Guinness Nigeria Plc N0.94, UBA Plc N0.81, among others.

On the other hand, Northern Nigeria Flour Mills Plc led 27 other stocks on the gainers’ table with a gain of N3.43 to close at N37.01 per share, Nestle Nigeria Plc followed with a gain of N2.00 to close at N371.00 per share and Okomu Oil Palm Plc garnered N1.90 to close at N13.40 per share.

Other share price gainers’ include: PZ Cussons Nigeria Plc N1.09, Ashaka Cement Plc N0.98, Lafarge Cement  WAPCO Nigeria Plc N0.93, Ecobank Transnational Incorporation N0.90, University Press Plc N0.78, Presco Plc N0.70, 7-Up Bottling Company Plc N0.65, among others.

Despite the depreciation on the price indices, equity trading appreciated by 11.82 per cent, as a turnover of 1.23 billion shares valued at N11.3 billion was recorded in 33,065 deals during the week under review, in contrast to a turnover of 1.1 billion shares valued at N9.11 billion in 27,401 deals.

The Banking sub-sector was the most active on the sectorial analysis accounting for 44.23 per cent of the market turnover with 544.01 million shares valued at N4.4 billion in 16,608 deals.  United Bank for Africa Plc dominated the other sub-sector trading 75.48 million shares valued at N781.03 million in 1,635 deals folllowed by Zenith Bank Plc  exchanging 63.19 million shares valued at N863.37.
in 1,936 deals and  Fidelity Bank Plc recorded 57.52 million shares valued at N143.18 million in 702 deals.

The Construction sub-sector trailed on the sectorial analysis accounting for 7.68 per cent of the market turnover with 94.51million shares valued at N130.4 million in 298 deals.  Multiverse Resources Plc enjoyed the most patronage in the sub-sector trading 90.27 million shares valued at N45.13 million in 26 deals, Costain West Africa Plc followed with the exchange of 3.01 million shares valued at N18.54 million in 153 deals and Julius Berger Nigeria Plc recorded 1.21 million shares valued at N66.69 million in 118 deals.