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Equities’ value slide further by N23bn

BY PROVIDENCE OBUH

The bearish trend on the Nigerian Stock Exchange NSE continued Tuesday as equities value represented by the market capitalisation slide further by N22.75 billion.

In particular, the capitalisation declined by 0.28 per cent to close at N8.164 trillion from N8.186 trillion at which it opened. Another key performance indices, the All share index shed 0.28 per cent or 71.17 bases points to close at 25,533.68 points from 25,604.85 points.

The decline continued in the key sectorial indices, as the NSE 30, representing major blue chip companies, dipped by 0.05 per cent to close at 1,139.30 points.

The NSE Food/Beverage index, representing highly capitalised companies in the Food/Beverage and Tobacco sector, dropped by 0.09 per cent to close at 846.20 points from 848.95 points, the NSE Banking index shed 0.75 per cent to close at 386.38 points from 389.30 points at which it opened.

The NSE Insurance index also dipped by 1.28 per cent to close at 170.90 points from 173.11 points while the NSE Oil/Gas index depreciated by 0.49 per cent to close at 326.00 points from 327.60 points at which it opened.

The declining trend on the market indices was occasioned by losses on the share prices of 26 listed companies, led by Bank PHB Plc, with a loss of five per cent or N0.04 to close at N0.76 per share, RT Briscoe Plc followed with N0.12 to close at N2.29 per share and Ecobank Transnational Incorporation Plc dipped by N0.78 to close at N15.00 per share.

Other share price losers include: Ecobank Nigeria Plc N0.18, Guaranty Trust Assurance Plc N0.08, AIICO Insurance Plc N0.04, Intercontinental Bank Plc N0.04, Sterling Bank Plc N0.08, Oceanic Bank Plc N0.05, Japaul and Maritime Services Plc N0.05, among others.

On the contrary, Eterna Oil Plc led 16 other stocks on the gainers table rising by 4.89 per cent or N0.23 to close at N4.93 per share, Air Services and Logistics Plc followed with a gain of N0.12 to close at N2.66 per share and Ashaka Cement Plc garnered N0.95 to close N24.47 per share.

Other share price gainers include: NEM Insurance Plc N0.02, Cutix Plc N0.08, Union Homes Savings and Loans Plc N0.02, Unilever Nigeria Plc N1.00, Ikeja Hotel Plc N0.04, Unity Bank Plc N0.02, Intercontinental Wapic Insurance Plc N0.01 among others.

Equity trading appreciated by 2.18 per cent as a turnover of 158.09 million shares valued at N1.59 billion was recorded in 4,718 deals, in contrast to the previous day’s turnover of 154.72 million shares valued at N1.42 billion in 4,719 deals.

The Banking sub-sector was the most active on the sectorial analysis accounting for 64.72 per cent of the market turnover with 102.30 million shares valued at N659.03 million in 2,566 deals.

Uninted Bank for Africa Plc enjoyed the highest patronage in the sub-sector trading 14.68 million shares valued at N91.22 million in 271 deals, Fidelity Bank Plc followed with the exchange of 13.81 million shares valued at N35.94 million in 101 deals and Guaranty Trust Bank Plc recorded 10.49 million shares valued at N167.24 million in 486 deals.

The Insurance sub-sector followed on the sectorial analysis accounting for 7.16 per cent of the market turnover with 11.31 million shares valued at N7.44 million in 235 deals.

Lasaco Assurance Plc dominated activities in the sub-sector trading 5.03 million shares valued at N2.51 million in seven deals, AIICO Insurance Plc followed with 2.08 million shares valued at N1.67 million in 84 deals and NEM Insurance Company Nigeria Plc recorded 1.53 million shares valued at N796.42 million in 34 deals.


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