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Stock market: investors’stake slide by N16bn

By Providence Obuh
The upsurge witnessed for the better parts of the last week halted Tesday, as equities value represented by the market capitalisation dropped by N16.71 billion

Specifically, the capitalisation dipped by 0.27 per cent to close at N6.177 trillion from N6.194 trillion at which it opened.  Another key performance indices the All share index dropped by 0.27 per cent or 68.18 bases points to close at 25,210.05 points from 25,278.23 points.

The heightened profit taking by investors led to the loss on share price of Nestle Nigeria Plc  which shed N6.90 to close at N388.00 per share, Cadbury Nigeria Plc followed with a loss of N1.56 to close at N29.79 per share and Julius Berger Nigeria Plc dipped by N1.50 to close at N50.50 per share.

Other share price losers include: Unilever Nigeria Plc N1.49, Ashaka Cement N1.49, PZ Cusson Nigeria Plc N1.07, Dangote Flour Mills Plc N044, Zenith Bank Plc N0.38, National Salt Company Nigeria Plc N0.32, Access Bank Plc N0.25, among others.

In contrast, Oando Plc recorded the most share price   gain, increasing by N1.85 to close at N68.00 per share, Nigerian Bottling Company Plc followed with a gain of N1.00 to close at N33.50 per share and Okomu Oil Palm Plc N0.67 to close at N15.00 per share.

Other share price gainers include: Conoil Plc N0.66, Cement Company of Northern Nigeria Plc N0.63, Flour Mills Nigeria Plc N0.55, Nigeria Aviation Handling Company Plc N0.30, Guaranty Trust Bank Plc N0.29, First Bank Plc N0.27, Nigerian Breweries Plc N0.21, among others.

Equity trading   recorded a turnover of 361.41 million shares valued at N5.58 billion in 7,259 deals, in contrast to the previous day’s turnover of 304.34 million shares valued at N5.59 billion in 6,049 deals.

Banking stocks excites investors on the sectorial analysis accounting for 60.17 per cent of the market turnover with 217.45 million shares. valued at N1.92 billion in 4,006 deals.

First Bank of Nigeria Plc was the most active in the sub-sector trading 80.28 million shares valued at N1.08 billion in 1,106 deals, Guaranty Trust Bank Plc followed with the exchange of 18.88 million shares valued at N315.91 million in 641 deals and Finbank Plc recorded 16.20 million shares valued at N9.11 million in 84 deals.

Insurance stocks trailed on the sectorial analysis accounting for 13.81 per cent of the market turnover with 49.90 million shares valued at N29.56 million in 249 deals.  Universal Insurance Company Plc led the sub-sector trading 27.99 million shares valued at N13.99 million in two deals, Regency Alliance Insurance Company Plc followed with the exchange of 10 million shares valued at five million in three deals and AIICO Insurance Plc recorded 4.25 million shares valued at N4.34 million in 84 deals.


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