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Stock market: capitalisation dip further by N9bn

By Providence Obuh

Transaction on the Nigerian Stock Exchange (NSE) resumed Monday on a bearish note as the value of equities represented by the market capitaliation declined by N8.94 billion.

Specifically, the capitalisation dipped by 0.11 per cent to close at N8.231 trillion from N8.240 trillion at which it opened. Another key performance indices the All share index declined by 27.97 bases points or 0.11 per cent to close at N25,762.67 points from 25,790.64 points.

Vitafoam Nigeria Plc recorded the highest share price change with five per cent or N0.28 to close at N5.88 per share, UAC-Property Development Company Plc followed with N0.85 to close at N17.96 per share and Oceanic Bank International Plc garnered N0.09 to close at N1.99 per share. Other share price gainers include: Associated Bus Company Plc N0.03, Nigeria Wire and Cables Plc N0.02, Tantalizers Plc N0.01, Unity Bank Plc N0.02, Julius Berger Nigeria Plc N0.95, Wema Bank Plc N0.02, Finbank Plc N0.01, among others.

On the contrary, Sterling Bank Plc recorded a loss of five per cent or N0.11 to close at N2.09 per share, International Breweries Plc followed wit a loss of N0.32 to close at N6.18 er share and Secure Electronic Technology Plc dropped by N0.06 to close at N1.16 per share.

Other share price losers include: Union Nigeria Bank Plc N0.15, Bags Manufacturing Plc N0.13, Bank PHB Plc N0.07, Starcomms Plc N0.03, NEM Insurance Plc N0.02, Law Union and Rocks Plc N0.02, National Salt Company Nigeria Plc N0.17, among others.

Equity Trading plunge 49.91 per cent as a turnover of 180.06 million shares valued at two billion was recorded in 5,408 deals, compared to Friday’s turnover of 359.47 million shares valued at N2.11 billion in 4,151 deals.

The Banking Sub-sector was the most active on the sectorial analysis accounting for 69.21 per cent of the market turnover with 124.62 million shares valued at N1.09 billion in 2,701 deals. Zenith Bank Plc dominated activities in the sub-sector trading 34.83 per cent of the market turnover with 124.62 million shares valued at N532.14 million in 2,701 deals, Oceanic Bank International Plc followed with 13.05 million shares valued at N25.29 million in 99 deals and Guaranty Trust Bank Plc recorded 11.86 million shares valued at N190.41 million in 544 deals.

The Insurance sub-sector trailed on the sectorial analysis accounting for 5.90 per cent of the market turnover with 10.62 million shares valued at N6.98 million in 133 deals. AIICO Insurance Plc enjoyed the highest patronage in the sub-sector trading 3.23 million shares valued at N2.70 million in 53 deals, Regency Alliance Insurance Plc followed with three million shares valued at N1.50 million in three deals and International Energy Insurance Plc recorded one million shares valued at N503.58 million seven deals.

However, the NSE 30 which measures the performance of blue chips dipped by 0.41 per cent, NSE Insurance declined by 1.44 per cent, NSE Banking dipped by 0.36 per cent, on the contrary, NSE Food & beverages closed rose by 0.22 per cent and NSE Oil & Gas appreciated by 0.13 per cent.


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