By Providence Obuh
The value of listed equities’ represented by the market capitalisation on the Nigerian Stock Exchange (NSE) Wednesday, dropped further by N51.51 billion.
In particular, the capitalisation dipped by 0.67 per cent to close at N7.811 trillion from N7.864 trillion at which it opened.
Another key performance indices, the All share index declined by 0.67 per cent or 164.25 bases points to close at 24,462.73 points from 24626.98 points.
The declining trend was occasioned by losses on the share price of major blue chip company’s led by MRS Oil Nigeria Plc with a loss of N4.08 to close at N77.62 per share, Nigerian Breweries Plc followed with a loss of N1.91 to close at N75.00 per share and African Petroleum Plc dipped by N1.17 to close at N22.33 per share.
Other share price losers include: 7-Up Bottling Company Plc N1.00, First Bank of Nigeria Plc N0.41, International Breweries Plc N0.33, Ecobank Transnational Incorporation Plc N0.29, Diamond Bank Plc N0.28, Guaranty Trust Bank Plc N0.26, Paints and Coatings Manufacturer Plc N0.19, among others.
On the contrary, Nestle Nigeria Plc led on the gainers table with a gain of N10.00 to close at N390.00 per share, UAC Nigeria Plc followed with a gain of N1.08 to close at N40.50 per share and Flour Mills Nigeria Plc garnered N0.99 to close at N70.00 per share.
Other share price gainers include: Okomu Oil Palm Plc N0.65, Mobil Oil Nigeria Plc N0.50, Ashaka Cement Plc N0.47, Berger Paints Plc N0.42, Presco Plc N0.31, National Salt Company Nigeria Plc N0.26, Eterna Oil and Gas Plc N0.22, among others.
Equity trading plunge 23.22 per cent, however a turnover of 310.26 million shares valued at N2.28 billion was recorded in 5,653 deals, in contrast to the previous day’s turnover of 404.11 million shares valued at N4.78 billion in 6,650 deals.
The Banking sub-sector recorded the highest activity in the sub-sector accounting for 51.51 per cent of the market turnover with 159.82 million shares valued at N1.15 billion in 3,088 deals. Skye Bank Plc was the most sought after in the sub-sector trading 54.79 million shares valued at N446.66 million in 161 deals, Afribank Nigeria Plc followed with the exchange of 16.59 million shares valued at N37.25 million in 123 deals and First Bank of Nigeria Plc recorded 14.57 million shares valued at N187.66 million in 708 deals.
The Insurance sub-sector trailed on the sectorial analysis accounting for 9.09 per cent of the market turnover with 28.23 million shares valued at N24.35 million in 211 deals. Guaranty Trust Assurance Plc led the sub-sector trading 5.47 million shares valued at N8.92 million in 40 deals, Sovereign Trust Assurance Plc followed with exchange of five million shares valued at N2.50 million in two deals and Regency Alliance Insurance Company Plc recorded 4.48 million shares valued at N2.24 million in four deals.