BY  MICHAEL EBOH

The value of investments on the Nigerian Stock Exchange, NSE, driven by renewed interest in the shares of major blue chip companies, appreciated last week, by N91.80 billion.

Investment value, represented by the market capitalization, rose by 1.4 per cent to close the week at N6.642 trillion from N6.549 trillion at which it started the week.

The All-share index also appreciated by 1.4 per cent or 289.46 points to close the week at 20,941.93 points from 20,652.47 points at which it opened.

The improvement in the indices was engendered by the low prices of majority of the listed equities, making them attractive to value investors. The rush for the low-priced stocks helped pushed up their prices and consequently, led to an improvement in the market indices.

Mobil Oil Nigeria Plc recorded the most share price gain, rising by N13.33 to close at N146 per share, from N132.67 per share at which it opened, Okomu Oil Palm Plc followed with a gain of N5.49 to close at N33.50 per share and Dangote Cement Plc garnered N2.70 to close at N116.50 per share.

Other share price gainers in the week under review include: Unilever Nigeria Plc N2.39, CAP Plc N1.50, Nestle Nigeria Plc N1.20, Guaranty Trust Bank Plc N1.01,  UAC Nigeria Plc N1, Zenith Bank Plc N0.76, Ecobank Transnational Incorporated N0.69 among others.

On the other hand, Guinness Nigeria Plc led 33 other share price losers, with a loss of N9.70 to close at N230.14 per share, from N239.84 per share at which it opened, Oando Plc followed with a loss of N3.01 to close at N19 per share and Glaxo SmithKline Consumer Plc dipped by N2.03 to close at N18.97 per share.

Other share price losers are: Cadbury Nigeria Plc N1.79, Lafarge WAPCO Plc N1, NCR (Nigeria) Plc N0.68, Ashaka Cement Plc N0.63, National salt Company Plc N0.60, Presco Plc N0.59 and Nigerian Aviation Handling Company Plc N0.47 among others.

Equity trading also appreciated by 20.32 per cent, as a turnover of 1.149 billion shares valued at N7.8 billion was recorded in 15,027 deals, in contrast to the penultimate week’s turnover of 1.442 billion shares valued at N11.5 billion in 18,849 deals.

The Financial Services sector was the most active in the sectorial analysis, accounting for 74.67 per cent of the market turnover, with 857.99 million shares valued at N4.94 billion in 8,856 deals.

The Natural Resources sector followed, accounting for 6.18 per cent of the market turnover, with 70.547 million shares valued at N35.54 million in 13 deals.

The Banking sub-sector in the Financial Services sector was the most active in the week under review, accounting for 64.32 per cent of the market turnover, with 738.97 million shares valued at N4.87 billion in 8,450 deals.

Transactions in the banking sub-sector was largely driven by activity in the shares of Diamond Bank Plc, Guaranty Trust Bank Plc and Zenith Bank Plc. Trading in the shares of the three banks accounted for 417.2 million shares, representing 56.46 per cent, 48.63 per cent and 36.30 per cent of the turnover recorded by the sub-sector, sector and total turnover for the week, respectively.

The Diversified Industries subsector of the Conglomerates sector, boosted by activity in the shares of Transnational Corporation of Nigeria Plc, followed on sectorial analysis, with a turnover of 66.26 million shares valued at N33.5 million traded in 212 deals.