BY PROVIDENCE OBUH & FAVOUR AGBI

The bearish run on the Nigerian Stock Exchange NSE continued last week, as equities value represented by the market capitalization declined by N183.48 billion.

Specifically, the capitalization dropped by 2.66 per cent to close at N6.725 trillion from N6.908 trillion at which it opened the week.

Another key performance indicator, the All-share index depreciated by 2.29 per cent or 494.88 basis points to close at 21,104.10 points from 21,598.98 points at which it opened.

Dangote Cement Plc recorded the highest share price loss in the week under review, dropping by N4.00 to close at N100.00 per share, Forte Oil Plc followed with a loss of N3.21 to close at N14.20 per share and UACN Property Development Company Plc dipped by N2.14 to close at N17.55 per share.

Other share price losers include: Nigerian Enamel Wares Plc N2.13, Dangote Flour Mills Plc N1.91, Nigerian Breweries Plc N1.61, Nestle Nigeria Plc N1.00, Glaxo Smithkline Consumers Plc N1.00, Custodian and Allied Industries Plc N1.00, Ecobank Transnational Plc N0.92, among others.

On the contrary, Guinness Nigeria Plc recorded the highest share price, rising by N10.00 to close at N228.00 per share, Flour Mills Nigeria Plc followed with a gain of N3.80 to close at N 79.80 per share and Etena Oil and Gas Plc garnered N0.83 to close at N5.29 per share.

Other share price gainers include: Lafarge Cement WAPCO Plc N0.55, Cadbury Nigeria Plc N0.45, Vitafoam Nigeria Plc N0.28, Oando Plc N0.25, International Breweries Plc N0.21, Academy Press N0.15Okomu Oil Palm Plc N0.13, among others.

Equity trading appreciated by 43.62 per cent as a turnover of 877.73 million shares valued at N7.65 billion was recorded in 20,383 deals in the week under review compared to the previous week’s turnover of 611.16 million shares valued at N3.55 million in 13,704 deals.

The Banking sub-sector was the most active on the sectorial analysis, accounting for 65.26 per cent of the market turnover with 572.84 million shares valued at N3.495 million in 11,067 deals. Union Bank Nigeria Plc dominated the sub-sector trading 88.65 million shares valued at N185.28 million in 95 deals, Guaranty Trust Bank Plc followed with the exchange of 79.69 million shares valued N1.04 billion in 2,468 deals and First Bank of Nigeria Plc recorded 63.90 million shares valued at N685.57 million in 2,714 deals.

The Insurance sub-sector followed on the sectorial analysis accounting, for 8.51 per cent of the market turnover with 74.72 million shares valued at N44.18 million in 647 deals.

NEM Insurance Company Nigeria Plc enjoyed the highest patronage in the sub-sector trading 37.08 million shares valued at N18.54 million in 103 deals, Goldlink Insurance Plc followed with the exchange of 9.91 million shares valued at N4.95 million in 19 deals and AIICO Insurance Plc recorded 9.68 million shares valued at N6.43 million in 237 deals.