BY MICHAEL EBOH
The downward trend recorded in the indices used for measuring the performance of listed equities continued, Wednesday, as the market capitalisation and All-share index both dropped by 0.24 per cent each.
In particular, the capitalisation which opened at N8.164 trillion shed N19.85 billion to close at N8.144 trillion, while the index dipped by 62.09 basis points to close at 25,471.59 points from 25,533.68 points.
May and Baker Nigeria Plc recorded the most share price loss, depreciating by five per cent or N0.20 to close at N3.80 per share from N4.00 per share at which it opened, Poly Products Plc followed with a share price depreciation of 4.96 per cent or N0.06 to close at N1.15 per share and Pharma Deko Plc dipped by 4.91 per cent or N0.20 to close at N3.87 per share.
Other share price losers include: Costain (West Africa) Plc N0.18, Ecobank Nigeria Plc N0.17, RT. Briscoe Plc N0.11, Unilever Nigeria Plc N1.39, Nigerian Aviation Handling Company Plc N0.41, Paints and Coating Manufacturers Plc N0.09, Spring Bank Plc N0.04 among others.
On the contrary, AIICO Insurance Plc recorded the most share price gain, appreciating by five per cent or N0.04 to N0.84 per share, Intercontinental Bank Plc followed with a share price appreciation of 4.71 per cent or N0.04 to close at N0.89 per share and Sterling Bank Plc garnered N0.08 or 4.65 per cent to close at N1.80 per share.
Other share price gainers include: Union Bank Plc N0.09, Red Star Express Plc N0.13, Nigerian Bag Manufacturing Company Plc N0.10, Access Bank Plc N0.27, Oando Plc N1.91, Continental Reinsurance Plc N0.04, Unity Bank Plc N0.03 among others.
Equity trading appreciated by 114.47 per cent, as a turnover of 339.049 million shares valued at N2.567 billion in 5,923 deals, in contrast to the previous day’s turnover of 158.09 million shares valued at N1.6 billion in 4,718 deals.
The Banking sub-sector enjoyed the most patronage, accounting for 61.91 per cent of the market turnover, with 209.91 million shares valued at N1.48 billion in 3,619 deals.
GTBank Plc dominated trading in the sub-sector with 38.57 million shares valued at N619.7 million in 549 deals, followed by Afribank Nigeria Plc with the exchange of 35.49 million shares valued at N35.31 million in 141 deals and Access Bank Plc recorded 27.28 million shares valued at N190.91 million in 327 deals.
The Chemical and Paints sub-sector followed on the sectorial analysis, accounting for 17.92 per cent of the market turnover, with 60.74 million shares valued at N112.34 million in 17 deals.
Paints and Coatings Manufacturing Plc solely accounted for majority of the transactions in the sub-sector, with 60.66 million shares valued at N109.8 million in three deals, Chemical and Allied Products Plc followed with the exchange of 77,307 shares valued at N2.51 million in 10 deals and Berger Paints Plc recorded 2,273 shares valued at N23,707.39 in three deals.