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NSE share value soars by N30bn, despite fluctuations

By Michael Eboh & Providence Obuh
Despite the fluctuating trend recorded in the equities’ segment of the Nigerian Stock Exchange (NSE), last week, the value of listed equities, represented by the All-share index and market capitalisation, appreciated by N29.85 billion.

Specifically, after a three-day upward trend and a two-day decline, the capitalisation which opened the week at N6.110 trillion rose by 0.49 per cent to close at N6.140 trillion, while the index shed 122.06 basis points to close at 25,106.86 points from 24,984.80 points at which it opened.

The improvement in the indices was occasioned by gain on the share price of major blue chips companies, represented by the NSE 30 index. This was in spite of significant decline recorded in all the sectoral indices. The NSE 30 index, driven by gains on the prices of Northern Nigerian Flour Mills Plc, Nigerian Breweries Plc, among others, rose by 0.68 per cent to close the week at 1,045.92 points from 1,038.85 points.

On the other hand, the NSE Food/Beverage index dipped by 0.18 per cent to close at 810.17 points, NSE Banking index shed 0.37 per cent to close at 372.12 points, NSE Insurance index dropped by 1.6 per cent to 174.39 points, while the NSE Oil/Gas index slide by 1.55 per cent to close the week at 370.44 points.

Northern Nigeria Flour Mills Plc led 37 other companies on the price gainers’ table, rising by N5.83 to close at N42.84 per share, Nigerian Breweries Plc followed with a gain of N4.59 to close at N72.60 per share and Okomu Oil Palm Plc garnered N2.22 to close at N15.62 per share.

Other share price gainers include: PZ Cussons Nigeria Plc N2.00, Benue Cement Company Plc N1.00, Guinness Nigeria Plc N1.00, UAC of Nigeria Plc N0.90, Nigerian Bottling Company Plc N0.80, Cadbury Nigeria Plc N0.80, Oando Plc N0.69 among others.

On the contrary, African Petroleum Plc led 48 other companies on the price losers’ table, dropping by N5.79 to close at N21.20 per share, Flour Mills Nigeria Plc followed with a loss of N3.01 to close at N71.00 per share and Lafarge Cement WAPCO Plc dipped by N1.44 to close at N38.55 per share.
Other share price losers include: University Press Plc N0.80, Nigerian Aviation Handling Co. Plc N0.59, Skye Bank Plc N0.46, Ashaka Cement Plc N0.40, Access Bank Plc N0.35, Academy Press Plc N0.29, Prestige Assurance Plc N0.29 among others.

Equity trading, however dropped slightly by 4.88 per cent, as a turnover of 1.17 billion shares valued at N11.61 billion was recorded in the week under review in 36,855 deals, in Banks’ stocks continue to enjoy investors’ patronage, as transactions in the sub-sector accounted for 59.15 per cent of the total market turnover, with 692.9 million shares valued at N5.79 billion in 16,423 deals.

Trading in the sub-sector, in the week under review, was driven by activity in the shares of First Bank of Nigeria Plc, with th exchange of 90.04 million shares valued at N1.16 billion in 3,8016 deals.

Zenith Bank Plc followed with the exchange of 79.29 million shares valued at N1.07 billion in 1,843 deals and Fidelity Bank Plc recorded 76.98 million shares valued at N195.99 million in 752 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 8.2 per cent of the market turnover, with 96.08 million shares valued at N108.3 million in 1,459 deals. AIICO Insurance Plc recorded the highest patronage in the sub-sector, trading 36.22 million shares valued at 42.58 million in 686 deals, Guaranty Trust Assurance Plc followed with the exchange of 13.54 million shares valued at N27.26 million in 151 deals and Intercontinental WAPIC Insurance recorded 9.99 million shares value at N6.24 million in 111 deals.


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