BY MICHAEL EBOH

An upward trend was recorded in transactions on the Nigerian Stock Exchange, NSE, last week, as the value of listed equities, represented by the market capitalization, appreciated by N275.586 billion.

Driven by gains recorded in the share prices of major blue chip companies, the capitalization rose by 3.27 per cent to close the week at N8.695 trillion, up from N8.42 trillion at which it opened the week.

The All-share index also appreciated by 3.2 per cent, as it garnered 845.18 basis points from 26,442.67 points at which it opened the week to close at 27,287.85 points.

Nestle Nigeria Plc led 49 other stocks on the price gainers’ table, rising by N10 to close at N625 per share, from N615 per share at which it opened; Guinness Nigeria Plc followed with a gain of N4.40 to close at N281 per share and Ashaka Cement Plc garnered N2.75 to close at N19.50 per share.

Other share price gainers include: Cadbury Nigeria Plc N2.44, Nigerian Breweries Plc N2.15, Julius Berger Nigeria Plc N2, First Bank of Nigeria Plc N1.48, Cement Company of Northern Nigeria Plc N1.35, Zenith Bank Plc N1.25, Lafarge Wapco Plc N1.24 among others.

On the contrary, Chemical and Allied Products Plc led 24 other companies on the price losers’ table, dropping by N1.45 to close at N27.55 per share, down from N29 per share at which it opened; Northern Nigeria Flour Mills Plc followed with a loss of N1.07 to close at N20.41 per share and International Breweries Plc shed N0.81 to close the week at N13.19 per share.

Other share price losers in the week under review include: PZ Cussons Nigeria Plc N0.75, Roads Nigeria Plc N0.53, Arbico Plc N0.44, Union Bank Nigeria Plc N0.40, Presco Plc N0.30, Oando Plc N0.24 and Mansard Insurance Plc N0.19 among others.

Equity trading, however, depreciated by 54.11 per cent in the week under review, as investors exchanged 2.184 billion shares valued at N17.495 billion in 27,786 deals compared to the previous week’s of 4.759 billion shares valued at N40.472 billion in 20,364 deals.