BY PROVIDENCE OBUH
The declining trend on the Nigerian Stock Exchange (NSE) has maintain strong hold on equities market as the market indicators for measuring the performance indices, the market capitalisation and the All share index dropped by 0.97 per cent.

Specifically, the capitalisation declined by N82.88 billion to close at N8.442 trillion from N8.525 trillion at which it opened, while the index dipped by 259.31 bases points to close at 26,413.26 points from 26,672.57 points at which it opened.

Losses on the share price was occasioned by some major blue chip companies, led by Bags Manufacturing Company Plc with the highest percentage loss of  N0.16 to close at N3.04 per share, Afribank Plc followed with a loss of N0.15 to close at N2.85 per share and Vitafoam Nigeria Plc dipped by N0.28 to close at N5.32 per share.

Other share price losers include: Nigerian Bottling Company Plc N1.92, Nigerian Aviation Handling Company Plc N0.52, Custodian and Allied Insurance Company Plc N0.17, Nampak Nigeria Plc N0.19, Oceanic Bank Plc N0.17, Intercontinental Bank Plc N0.14, Beco Petroleum Plc N0.03, among others.

On the contrary, First Bank of Nigeria Plc led on the gainers table with a gain of N0.75 to close at N15.75 per share, 7-Up Bottling Company Plc followed with a gain of N2.04 to close at N42.99 per share and Champion Breweries Plc garnered N0.13 to close at N2.82 per share.

Other share price gainers include: Neimeth International Pharmaceutical Plc N0.07, Associated Bus Company Plc N0.03, Stanbic IBTC Bank Plc N0.39, Union Homes Savings and Loans Plc N0.03, Tantalizers Plc N0.02, Fidson Healthcare Plc N0.05, Lafarge Cement Wapco Plc N0.50, among others.

Equity trading appreciated by 70.10 per cent as a turnover of 371.10 million shares valued at N4.22 billion was recorded in 6,705 deals, in contrast to the previous day’s turnover of 218.15 million shares valued at N1.67 billion in 5,548 deals.

The Banking sub-sector was the most active on the sectorial analysis accounting for 81.36 per cent of the market turnover with 301.93 million shares valued at N3.40 billion in 3,933 deals.  Zenith Bank Plc recorded the highest patronage in the sub-sector trading 127.68 million shares valued at two billion in 472 deals.

First Bank of Nigeria Plc followed with the exchange of 39.55 million shares valued at N614.80 million in 830 deals and Finbank Plc recorded 19.49 million shares valued at N21.48 million in 147 deals.

The Insurance sub-sector trailed on the sectorial analysis accounting for 3.22 per cent of the market turnover with 11.96 million shares valued at N11.93 million in 410 deals.  AIICO Insurance Plc recorded the most trading with 5.62 million shares valued at N5.62 million in 283 deals, Guaranty Trust Assurance Plc followed with the exchange of 1.78 million shares valued at N3.09 million in 28 deals and Lasaco Assurance Plc traded one million shares valued at N500,186.00 in two deals.