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NSE: Investors lament over losses on value of investment

By Providence Obuh
Investors on the Nigeri an Stock Exchange (NSE) last week, lamented over the unending decline on the value of their investment as the market indicators for measuring the performance indices the market capitalisation and the All share index both dropped by 1.33 per cent each.

In particular, the capitalisation dipped N74.60 billion to close at N5.559 trillion from N5.634 trillion at which it opened the week  under review, while the index shed 304.68 bases points to close at 22,689.09 points from 22,993.77 points.
Mobil Oil Nigeria Plc led 47 other stocks on the losers’ table, dropping by N14.45 to close at N133.89 per share, Total Nigeria Plc followed with a loss of N12.50 to close at N237.50 per share and Julius Berger Nigeria Plc dipped by N4.00 to close at N52.00 per share.
Other share price losers include: Dangote Flour Mills Plc N2.66, Ashaka Cement Plc N2.46,  Conoil Plc N1.80, African Petroleum Plc N1.55, Glaxo Smithkline Consumer Nigeria  Plc N1.45, Nigerian Bottling Company Plc N1.29, Ecobank Transnational Incorporated N1.15, among others.

Oando Plc led 33 other stocks on the gainers’ table with a gain of N3.57 to close at N57.00 per share, Berger Paints Nigeria Plc followed with a gain of N1.12 to close at N8.06 per share and Cement Company of Northern Nigeria Plc garnered  N0.80 to close at N13.50 per share.  Other share price gainers’ include: PZ Cussons Nigeria Plc N0.67, Access Bank Plc N0.63, Skye Bank Plc N0.60,  Diamond Bank Plc N0.54,  Benue Cement Company Plc N0.50, UACN Property Development Company Plc N0.42, Cadbury Nigeria Plc N0.38, among others.

A turnover of 971 million shares valued at N8.36 billion was recorded in 28,629 deals in the week under review, in contrast to the previous week’s turnover of 1.334 billion shares valued at N16.01 billion in 29,656 deals.
The Banking subsector was the most active on the sectorial analysis accounting for 59.9 per cent of the market turnover  with 544.6 million shares valued at N4.32 billion in 16,660 deals.

Zenith Bank Plc dominated activities in the sub-sector trading 103.14 million shares valued at N1.28 million in 2,969 deals, First Bank of Nigeria Plc followed with the exchange of 61.62 million shares valued at N699.97 million in 4,048 deals and Guaranty Trust Bank Plc recorded 51.69 million shares valued at N762.19 in 2,398 deals.

The Insurance sub-sector, trailed on the sectorial analysis accounting for 13.68 per cent of the market turnover with 132.8 million shares valued at N91.91 million in 957 deals.

Universal Insurance Company Plc recorded the highest patronage in the sub-sector trading 28.76 million shares valued at N14.38 million in 78 deals, Cornerstone Insurance Plc, followed with the exchange of 20.04 million shares valued at N10.02 million in eight deals and Intercontinental Wapic Insurance Plc recored 19.15 million shares valued at N10.62 million in 66 deals.


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