By Providence Obuh

Investment value on the Nigerian Stock Exchange (NSE) resumed Monday, on a bearish note as blue chip companies drag down shares value by 23.12 billion.

In particular, equities’ value represented by the market capitalisation dipped by 0.29 per cent to close at N7.896 trillion from N7.919 trillion at which it opened.  Another key performance indices the All share index shed 0.29 per cent or 72.39 bases points to close at 24,728.08 points from 24,800.47 points.

The declining trend was occasioned by highly capitalised stocks of blue chip companies led by Cadbury Nigeria Plc with a loss of N0.67 to close at N28.89 per share, PZ Cussons Nigeria Plc followed with a loss of N0.50 to close at N32.50 per share and UAC-Property Development Company Plc dipped by N0.49 to close at N17.51 per share.

Other share price losers include: First Bank of Nigeria Plc N0.41, First City Monument Bank Plc N0.36,  National Salt Company Nigeria Plc N0.24, Nigeria Aviation Handling Company Plc N0.23, Union Bank Nigeria Plc N0.23, Diamond Bank Plc N0.21, Skye Bank Plc N0.16, among others.

On the contrary, Oando Plc recorded the most share price gain on the gainers table with a gain of N1.95 to close at N66.00 per share, United Bank for Africa Plc followed with a loss of N0.35 to close at N8.95 per share and Zenith Bank Plc garnered N0.29 to close at N13.99 per share.

Other share price gainers include: International Breweries Plc N0.13, RT Briscoe Plc N0.13, Guaranty Trust Bank Plc N0.13, Capital Hotel Plc N0.10, C and I Leasing Plc N0.08, Ikeja Hotel Plc N0.07, Wema Bank Plc N0.06, among others.

Equity trading decline by 10.51 per cent, as a turnover of 414.58 million shares valued at N2.15 billion was recorded in 6,297 deals, in contrast to Friday’s turnover of 463.30 million shares valued at N1.59 billion in 6,129 deals.

The Banking sub-sector recorded the highest patronage on the sectorial analysis accounting for 84.91 per cent of the market turnover with 352.01 million shares valued at N1.68 billion in 4,275 deals.

Finbank Plc was the most active in the sub-sector trading 64.03 million shares valued at N53.77 million in 339 deals, Oceanic Bank International Nigeria Plc followed with the exchange of 52.14 million shares valued at N148.73 million in 584 deals and Bank PHB Plc  recorded 34.29 million shares valued at N58.30 million in 198 deals.

The Insurance sub-sector followed on the sectorial analysis accounting for 24,23 million shares valued at N16.64 million in 214 deals.

Lasaco Assurance Plc recorded the most activities in the sub-sector trading 15.13 million shares valued at N7.56 million in 49 deals, AIICO Insurance Plc followed with the exchange of 2.60 million shares. valued at N2.63 million in 65 deals .