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Investmment value on NSE dips by N73bn

BY PROVIDENCE OBUH

Investment value, represented by the market capitalization of the Nigerian Stock Exchange, NSE, dropped Tuesday, by N73.44 billion.

In particular, capitalisation depreciated by 0.91 per cent to close at N7.958 trillion from N8.031 trillion at which it opened. The All share index, another key performance indicator, declined by 0.91 per cent or 229.67 basis points to close at 24,889.74 points from 25,119.41 points.

Aigboje Aig-Imoukhuede, Group Managing Director/CEO, Access Bank receiving the Financial Times/International Finance Corporation's "Sustainable Bank of the Year Award" from Ms. Rachel Kyte, IFC, Vice President for Business Advisory at the FT/IFC Sustainable Finance Gala Dinner held in London, recently.

The declining trend was occasioned by losses on the share price of 33 listed companies led by First Bank of Nigeria Plc with a loss of five per cent or N0.63 to close at N11.97 pr share, Glaxo Smithkline Consumer Plc followed with a loss of N1.41 to close at N26.94 per share aand Longman Nigeria Plc shed N0.28 to close at N5.39 per share.

On the other hand, RT Briscoe Plc led on the gainers table rising by 4.81 per cent, Julius Berger Nigeria Plc followed with a gain of N2.50 to close at N56.50 per share and UTC Nigeria Plc garnered N0.03 to close at N0.69 per share.

Other share price gainers include: Oceanic Bank International Plc N0.05, Intercontinental Bank Plc N0.04, Bank PHB Plc N0.03, AIICO Insurance Plc N0.03, Afribank Plc N0.04, Union Homes Savings and Loans Plc N0.02, C&I Leasing Plc N0.04, among others.

Equity trading depreciated by 21.72 per cent as a turnover of 312.16 million shares valued at N1.71 billion was recorded in 6,190 deals, in contrast to the previous day’s turnover of 398.80 million shares valued at N6.46 billion in 4,774 deals.

The Banking sub-sector was the most active in the sectorial analysis accounting for 50.71 per cent of the market turnover with 158.28 million shares valued at N1.09 billion in 3,641 deals. Diamond Bank Plc enjoyed the most patronage in the sub-sector trading 46.29 million shares valued at N254.45 million in 107 deals, First Bank of Nigeria Plc followed with thee exchange of 29.32 million shares valued at N354.53 million in 787 deals and Guaranty Trust Bank Plc recorded 15.19 million shares valued at N238.70 million in 612 deals.

The Insurance sub-sector followed on the sectorial analysis accounting for 26.03 per cent of the market turnover with 81.24 million shares valued at 50.66 million in 371 deals.

NEM Insurance Company Nigeria Plc boosted activities in the sub-sector trading 42.52 million shares valued at N21.70 million in 22 deals, Guinea Insurance Plc followed with the exchange of 20.10 million shares valued at N10.05 million in three deals and Continental Reinsurance Plc recorded 7.54 million shares valued at N8.01 million in 10 deals.


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