BY PROVIDENCE OBUH

The downward trend on the Nigerian Stock Exchange was halted Wednesday, as equities value represented by the market capitalisation appreciated by N12.70 billion.

In particular, the capitalisation surged by 0.15 per cent to close at N8.243 trillion from N8.230 trillion at which it opened. Another key performance indices the All share index appreciated by 0.15 per cent or 39.71 bases points to close at 25,781.65 points from 25,741.94 points.

Improvement on the prices indices was occasioned by gains on the share price of major blue chip companies led University Press Plc with five per cent or N0.25 to close at N5.25 per share, Air Services and Logistics Plc followed with N0.11 to close at N2.31 per share and Nigerian Bottling Company Plc garnered N1.77 to close at N37.27 per share.

Other share price gainers include: Continental Reinsurance Plc N0.05, Nampak Plc N0.18, Unilever Nigeria Plc N1.16, Law Union and Rocks Plc N0.02, Ecobank Transnational Incorporation Plc N0.58, Guaranty Trust Assurance Plc N0.06, Okomu Oil Palm Plc N0.50, among others.

On the contrary, Nigerian Aviation Handling Company Plc led on the losers table with 4.98 per cent or N0.43 to close at N8.20 per share, Bags Manufacturing Company Plc followed with N0.13 to close at N2.52 per share and International Breweries Plc dipped by N0.33 to close at N6.44 per share.

Spring Bank Plc N0.05, Afribank Plc N0.06, Intercontinental Bank Plc N0.05, Union Bank Nigeria Plc n0.10, Oceanic Bank Plc N0.06,Unity Bank Plc N0.04, Bank PHB Plc N0.04, among others.

Equity trading declined by by 38.81 per cent as a turnover of 165.98 million shares valued at N1.77 billion was recorded in 5,278 deals, in contrast to the previous day’s turnover of 271.27 million shares valued at N2.21 billion in 5,163 deals.

The Banking sub-sector was the most active on the directorial analysis accounting for 59.42 per cent of the market turnover with 98.62 million shares valued at N749.16 million in 2,641 deals. Guaranty Trust Bank Plc dominated the sub-sector trading 15.44 million shares valued at N250.93 million 537 deals, Finbank Plc followed with the exchange of 14.60 million shares valued at N7.47 million in 101 deals and First Bank of Nigeria Plc recorded 11.55 million shares valued at N156.86 million in 644 deals.

The Conglomerates sub-sector followed on the directorial analysis accounting for 9.19 per cent of the market turnover with 15.25 million shares valued at N54.94 million in 242 deals.

Transnational Incorporation Plc enjoyed the most patronage in the sub-sector trading 14.02 million shares valued at N13.16 million in 66 deals, Unilever Nigeria Plc followed with the exchanged of 530,646 shares valued at N14.81 million in 72 deals and UAC Nigeria Plc recorded 416.35 million shares valued at N16.81 million in 56 deals.