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Investment value on NSE dips by N124bn

By Michael Eboh & Providence Obuh

The declining fortune of investment on the Nigerian Stock Exchange, NSE, continued last week, as the value of listed equities, represented by the market capitalisation, dropped by N123.67 billion.

The capitalization depreciated by 1.57 per cent to close the week at N7.773 trillion from N7.896 trillion at which it opened the week.

The All-share index also dipped by 1.57 per cent or 386.78 points to close at 24,310.03 points, from 24,696.81 points.

Flour Mills Nigeria Plc led 50 other stocks on the price losers’ table during the week, lower the 56 of the preceding week , dropping by N10.82 or 11.39 per cent to close at N84.18 per share, Julius Berger Nigeria Plc followed with a loss of N6.06 or 9.74 per cent to close at N56.20 per share and NCR Nigeria Plc dipped N3.00, 48.00 per cent to close at N6.25 per share.

Other share price losers include: GlaxoSmithKline Consumer Nigeria Plc N2.62, Dangote Cement Plc N2.60, Ashaka Cement Plc N2.00, Conoil Plc N1.80, PZ Cussons Nigeria Plc N1.30, Dangote Sugar Refinery Plc N0.80, Berger Paints Plc N0.52, among others.

On the contrary, Unilever Nigeria Plc led on the gainers’ table with a gain of N1.00 or 3.7 per cent to close at N28.00 per share, Capital Hotels Plc followed with a gain of N0.95 or 27.14 per cent to close at N4.45 per share and Cadbury Nigeria Plc garnered N0.55 or 3.06 per cent to close at N17.95 per share.

Other share price gainers’ include: Larfarge Wapco Plc N0.52, Nigerian Bottling Company Plc N0.50, Ecobank Transnational Incorporated N0.49, Champion Breweries Plc N0.21, Oando Plc N0.19, Diamond Bank Plc N0.14, Chemical And Allied Products Plc N0.10, among others.

The declining trend continued in equity trading, as a turnover of 1.685 billion shares valued at N12.7 billion was recorded in 29,688 deals, dropping by 27.96 per cent from the previous week’s turnover of 2.339 billion shares valued at N10.585 billion in 27,001 deals.

The Banking sub-sector recorded the highest transaction in the sectorial analysis, accounting for 53.35 per cent of the market turnover, with 899.255 million shares valued at N7.19 billion in 15,571 deals. Zenith Bank Plc’s shares enjoyed the most patronage in the sub-sector, as investors exchanged 224.02 million units of its shares valued at N3.299 billion in 1,561 deals.

Diamond Bank Plc followed with the exchange of 90.36 million shares valued at N454.04 million in 459 deals and GTBank Plc recorded 86.33 million shares valued at N1.307 billion in 2,475 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 26.65 per cent of the market turnover, with 449.43 million shares valued at N468.22 million in 733 deals.

Guaranty Trust Assurance Plc recorded the highest transaction in the sub-sector, trading 211.34 million shares valued at N316.822 million in 108 deals, Goldlink Insurance Plc followed with the exchange of 123.338 million shares valued at N61.7 million in 31 deals and NEM Insurance Plc recorded 39.14 million shares valued at N20.39 million in 76 deals.

However, the NSE-30 Index depreciated by 16.73 points or 1.53 per cent to close at 1,083.01. Last week, ASI and NSE-30 Indices depreciated by 2.3 per cent and 2.5 per cent, respectively.

All the four sectorial indices depreciated during the week compared with two that so depreciated during the preceding week. The NSE Food & Beverage Index depreciated by 26.08 points or 3.2 per cent to close at 802.11, the NSE Banking Index depreciated by 4.16 points or 1.12 per cent to close at 364.61, the NSE Innsurance Index depreciated by 8.43 points or 5.1 per cent to close at 160.05 and the NSE Oil & Gas Index depreciated by 0.96 points or 0.31 per cent to close at 292.88.


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