By Michael Eboh & Providence Obuh

Investors in the secondary segment 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 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.

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.

The Banking sub-sector recorded the highest transaction in the sectorial analysis, accounting for 38.01 per cent of the market turnover, with 889.64 million shares valued at N5.852 billion in 14,336 deals.

Zenith Bank Plc recorded the highest patronage in the sub-sector, trading 108.08 million shares valued at N1.59 billion in 1,435 deals, GTBank Plc followed with the exchange of 87.01 million shares valued at N1.336 billion 2,564 deals and Union Bank Nigeria Plc recorded 86.71 million shares valued at N235.47 million in 814 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 21.85 per cent of the market turnover, with 510.77 million shares valued at N369.75 million in 3,311 deals.