By Michael Eboh & Providence Obuh

Investors in the secondary segment of the Nigerian capital market recorded significant decline in the value of their holdings in the market, as the value of their investment in the Nigerian Stock Exchange, NSE, dropped, last week, by N183.78 billion.

Their investment value, represented by the market capitalization, depreciated by 2.27 per cent to close at N7.896 trillion from N8.080 trillion at which it started the week.

The All-share index also shed 2.27 per cent or 574.78 basis points to close at 24,696.83 points from 25,271.61 points at which it opened.

Oando Plc led 55 other stocks on the price losers’ table, with a share price depreciation of 16.85 per cent or N8.25 to close at N40.70 per share, Dangote Cement Plc followed with a loss of 3.85 per cent or N5.00 to close at N125 per share and Conoil Plc shed N3.90 or 9.75 per cent to close at N36.10 per share.

Other share price losers include: Forte Oil Plc N2.07, Nigerian Breweries Plc N2.04, Northern Nigerian Flour Mills Plc N1.38, Seven-Up Bottling Company Plc N1.00, Nestle Nigeria Plc N1.00, Ashaka Cement Plc N1.00, Dangote Flour Mills Plc N0.88 among others.

On the contrary, Julius Berger Nigeria Plc led 27 other companies on the price gainers’ table, with an appreciation of 10.20 per cent or N5.76 to close at N62.26 per share, Guinness Nigeria Plc followed with a share price appreciation of N5.00 or 2.08 per cent to close at N245.00 per share and Flour Mills of Nigeria Plc garnered N4.00 or 4.40 per cent to close at N95 per share.

Other share price gainers include: Mobil Oil Nigeria Plc N3.50, Chemical & Allied Products Plc N3.16, UACN Property Development Company Plc N1.00, Capital Hotel Plc N0.45, Union Bank of Nigeria Plc N0.41, University Press Plc N0.23, Longman Nigeria Plc N0.21 among others.

Equity trading in the week under review, appreciated by 36.51 per cent, as a turnover of 2.339 billion shares valued at N10.59 billion was recorded in 27,001 deals, in contrast to the previous week’s turnover of 1.714 billion shares valued at N14.04 billion in 27,001 deals.