BY PROVIDENCE OBUH & FAVOUR AGBI

A declining trend was recorded in the Nigerian Stock Exchange, NSE, last week, as equities’ value, represented by the market capitalisation dipped by N16.48 billion. Specifically, the capitalisation shed 0.23 per cent to close at N7.268 trillion from N7.285 trillion at which it opened the week. Another key performance indicator, the All-share index dropped by 0.23 per cent or 621.89 basis points to close at 22,724.02 points from 22,775.55 points.

Mobil Oil Nigeria Plc led 31 other stocks in the price losers’ table in the week under review, dropping by N7.80 or 4.98 per cent to close at N148.70 per share, Guinness Nigeria Plc followed with a loss of N7.00 or 3.18 per cent to close at N213.00 per share and MRS Oil Nigeria Plc dipped by N3.36 or five per cent to close at N63.86 per share.

Other share price losers include: Ashaka Cement Plc N2.42, Dangote Flour Mills Plc N1.48, Northern Nigerian Flour Mills Plc N1.19, PZ Cussons Nigeria Plc N1.01, Nigeria Bottling Company Plc N1.00, Forte Oil Plc N0.91, UAC of Nigeria Plc N0.79, among others. On the contrary, Julius Berger Nigeria Plc led 31 other stocks in the price gainers’ category, with a gain of N3.53, representing an appreciation of 6.79 per cent to close at N55.50 per share, UACN Property Development Company Plc followed with a gain of N1.55 or 8.52 per cent to close at N19.75 per share and Lafarge Cement WAPCO Nigeria Plc garnered N1.39 or 3.15 per cent to close at N45.50 per share.

Other share price gainers’ include: GlaxoSmithKline Consumer Nigeria Plc N1.28, Oando Plc N1.26, Capital Hotel Plc N1.17, Flour Mills of Nigeria Plc N0.50, Nigerian Breweries Plc N0.50, Berger Paints Plc N0.46, Honeywell Flour Mill Plc N0.43, among others. However, equity trading appreciated by 3.53 per cent, as a turnover of 1.76 billion shares valued at N12.96 billion was recorded in 22,746 deals, in contrast to the previous week’s turnover of 1.70 billion shares valued at N12.126 billion in 22,153 deals. The Banking sub-sector dominated the other sub-sectors on the sectorial analysis accounting for 59.60 per cent of the market turnover with 1.046 billion shares valued at N6.969 billion in 12,843 deals.

Access Bank Plc was the most active in the sub-sector trading 176.82 million shares valued at N1.071 billion in 885 deals, Guaranty Trust Bank Plc followed with the exchange of 156.10 million shares valued at N2.05 billion in 3,458 deals.

and United Bank for Africa Plc recorded 125.05 million shares valued at N587.09 million in 1,228 deals.

The Insurance sub-sector trailed on the sectorial analysis accounting for 14.07 per cent of the market turnover with 247.42 million shares valued at N238.07 million in 640 deals.

Guaranty Trust Bank Plc followed enjoyed the highest patronage in the sub-sector trading 142.52 million shares valued at N175.51 million in 125 deals, Goldlink Insurance Plc followed with the exchange of 43.16 million shares valued at N21.58 million in 27 deals and NEM Insurance Company Nigeria Plc recorded 34.19 million shares valued at N17.82 million in 116 deals.