BY MICHAEL EBOH & FAVOUR AGBI
The declining trend in the capital market worsened further last week, as investors’ holding in the Nigerian Stock Exchange, NSE, dipped by N49.97 billion.

The market capitalisation, representing the value of investors’ holding in the market, depreciated by 0.79 per cent or N49.97 billion to close the week at N6.282 trillion from N6.332 trillion at which it started the week’s trading.

The All-share index, another key indicator for measuring the performance of listed equities, also dipped by 0.79 per cent or 158.77 points to drop below the 20,000 psychological line, closing the week at 19,963.37 points from 20,122.14 points at which it opened.

Mobil Oil Nigeria Plc led 38 other companies on the price losers’ table in the week under review, dropping by N7.05 to close at N133.95 per share, from N141.00 per share at which it opened, Nestle Nigeria Plc followed with  a loss of N5 to close at N400 per share and Conoil Plc dipped by N1.75 to close at N33.25 per share.

Other share price losers include: Glaxo SmithKline Consumer Plc N1.48, Okomu Oil Palm Plc N1.00, PZ Cussons Nigeria 0.95, Cadbury Nigeria Plc N0.94, UACN Property Development Company Plc N0.60, First Bank of Nigeria Plc N0.52, Lafarge Wapco Cement Plc N0.50 among others.

On the contrary, Guinness Nigeria Plc led 26 other companies on the price gainers’ table, rising by N3.01 to close at N205.01 per share, from N202 per share at which it opened the week, Flour Mills Nigeria Plc followed with a gain of N1.50 to close at N64 per share and NCR (Nigeria) Plc recorded a share price gain of N0.44 to close at N9.31 per share.

Other share price gainers include: Roads Nigeria Plc N0.37, UAC Nigeria Plc N0.35, Presco Plc N0.34, Nigerian Breweries Plc N0.30, Oando Plc N0.25, E-Tranzact International Plc N0.24 and Ecobank Transnational Incorporated N0.23 among others.

The declining trend continued in equity trading in the week under review, as a turnover of 1.225 billion shares valued at N10.415 billion was recorded in 16,897 deals, in contrast to penultimate week’s turnover of 1.236 billion shares valued at N9.358 billion in 16,529 deals.

The Financial Services sector, driven by activity in the banking sub-sector, recorded the highest transaction in the sectorial analysis, accounting for 86.37 per cent of the total market turnover, with 1.058 billion shares valued at N6.807 billion in 10,066 deals. Zenith bank Plc enjoyed the most patronage, trading 206.66 billion shares valued at N2.389 billion in 1,221 deals, GTBank Plc followed with the exchange of 145.276 million shares valued at N2.065 billion in 1,936 deals and First Bank Nigeria Plc recorded 105.185 million shares valued at N974.073 million in 2,246 deals.

The Consumer Goods sector followed on the sectorial analysis, accounting for 48.98 per cent of the market turnover, with 59.779 million shares valued at N2.468 billion in 2,964 deals. Dangote Sugar Refinery Plc recorded the highest transaction in the sector, trading 31.5 million shares valued at N139.945 million in 351 deals, Nigerian Breweries Plc followed with the exchange of 10.265 million shares valued at N932.779 million in 750 deals and Guinness Nigeria Plc recorded 3.962 million shares valued at N807.481 million in 325 deals.