By Michael Eboh & Providence Obuh

The declining trend on the Nigerian Stock Exchange, NSE, worsened, Tuesday, as investment value dipped by N70.94 billion.

In particular, equities value represented by the market capitalization, depreciated by0.92 per cent to close at N7.660 trillion from N7.731 trillion at which it opened.

The All-share index also dipped by 0.92 per cent or 221.87 points to close at 23,959.70 points from 24,181.57 points at which it opened.

Fidelity Bank Plc recorded the most share price loss on the losers table, dropping by five per cent or N0.12 to close at N2.28 per share, Afribank Nigeria Plc followed with a share price depreciation of five per cent or N0.05 to close at N0.95 per share and Guaranty Trust Bank Plc dipped by N0.74 or 4.95 per cent to close at N14.20 per share.

Other share price losers include: Skye Bank Plc N0.35, Intercontinental Bank Plc N0.05, Sterling Bank Plc N0.06, Chemical and Allied Products Plc N1.51, Diamond Bank Plc N0.24, Vitafoam Plc N0.28, Unity Bank Plc N0.04 among others.

On the contrary, Capital Hotel Plc recorded the most share price gain, with an appreciation of 4.93 per cent or N0.23 to close at N4.90 per share, Costain (West Africa) Plc followed with a share price appreciation of 4.85 per cent or N0.13 to close at N2.92 per share and Red Star Express Plc garnered N0.13 or 4.66 per cent to close at N2.92 per share.

Other share price gainers include: May & Baker Nigeria Plc N0.14, Fidson Healthcare Plc N0.06, Continental Reinsurance Plc N0.03, Wema Bank Plc N0.02, NEM Insurance Plc N0.01, Starcomms Plc N0.01, Union Homes and Savings Plc N0.01 among others.

Equity trading appreciated by 31.46 per cent, as a turnover of 180.854 million shares valued at N1.44 billion was recorded in 5,857 deals, in contrast to the previous day’s turnover of 137.57 million shares valued at N924.75 million in 4,074 deals.

The Banking sub-sector dominated the other sub-sector, accounting for 62.6 per cent of the market turnover, with 113.211 million shares valued at N944.7 million in 2,941 deals.

Zenith Bank Plc recorded the highest transaction in the sub-sector, trading 23.56 million shares valued at N336.94 million in 316 deals, Guaranty Trust Bank Plc followed with the exchange of 18.74 million shares valued at N269.53 million in 582 deals and First Bank of Nigeria Plc recorded 12.87 million shares valued at N153.62 million in 628 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 12.19 per cent of the market turnover, with 22.03 million shares valued at N18.99 million in 125 deals.

Continental Reinsurance Plc boosted activity in the sub-sector trading 12.51 million shares valued at N13.27 million in19 deals, NEM Insurance Plc followed with the exchange of 2.61 million shares valued at N1.38 million in 17 deals and Equity Assurance Plc recorded two million shares valued at one million in three deals.

The NSE 30 index, representing major blue chip companies, dip by 1.05 per cent to close at 1,064.08 points from 1,075.35 points at which it opened, NSE Food/Beverage index shed 0.17 per cent to close at 795.16 points, NSE Banking index depreciated by 3.11 per cent to close at 349.03 points, NSE Insurance index dipped by0.13 per cent to close at 159.33 points and NSE Oil/Gas index closed flat at 292.11 points.