BY MICHAEL EBOH

A bullish trend was recorded in trading in the Nigerian Stock Exchange, NSE, last week, as the value of listed equities represented by the market capitalisation appreciated by N54.37 billion

The capitalisation closed the week at N6.497 trillion, rising by 0.84 per cent from N6.442 trillion at which it opened.

The All-share index, another market indicator, appreciated by 170.5 basis points or 0.84 per cent to close the week at 20,373.00 points from 20.202.50 points.

Dangote Cement Plc recorded the most share price gain, in the week under review, rising by N5 to close at N100 per share from N95 per share at which it opened, Seven-Up Bottling Company Plc followed with a gain of N1.50 to close at N47 per share and Conoil Plc garnered N1.36 to close at N34.36 per share.

Other share price gainers include: Okomu Oil Palm Plc N0.97, GTBank Plc N0.85, Zenith Bank Plc N0.51, First Bank of Nigeria Plc N0.49, Ikeja Hotel Plc N0.46, Access Bank Plc N0.41 and Ecobank Transnational Incorporated N0.33 among others.

On the contrary, Flour Mills Nigeria Plc recorded the most share price loss, dropping by N13.40 to close at N59.55 per share from N72.95 per share at which it opened, Nigerian Breweries Plc followed with a loss of N4.52 per share to close at 79.98 per share and UAC Nigeria Plc dipped by 3.61 to close at N33.46 per share.

Other share price losers include: Guinness Nigeria Plc N3.56, Total Nigeria Plc N3.32, Julius Berger Nigeria Plc N3.32, Chemical and Allied Products Plc N1.91, UACN Property Development Company Plc N1.81, Dangote Sugar Refinery Plc N1.55 and Oando Plc N1.41 among others.

A significant improvement was also recorded in equity trading in the week under review, as a turnover of 1.247 billion shares valued at N8.702 billion was recorded in 18,869 deals, rising by 18.03 per cent from the penultimate week’s turnover of 1.056 billion shares valued at N8.359 billion in 18,774 deals.

The Banking sub-sector recorded the highest patronage in the sectorial analysis, accounting for 68.32 per cent of the total market turnover, with 852.389 million shares valued at N4.881 million in 10,716 deals. United Bank for Africa Plc recorded the highest transaction in the sub-sector, trading 173.47 million shares valued at N592.662 million in 1,027 deals, Access Bank Plc followed with the exchange of 114.656 million shares valued at N576.679 million in 585 deals and Fidelity Bank Plc recorded 111.87 million shares valued at N222.919 million in 370 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 10.67 per cent of the market turnover, with 132.831 million shares valued at N94.07 million in 585 deals. NEM Insurance Company Plc recorded the highest patronage in the sub-sector, trading 30.377 million shares valued at N15.189 million in 17 deals, Continental Reinsurance Plc followed with the exchange of 25.849 million shares valued at N27.161 million 44 deals and Goldlink Insurance Plc recorded 25.443 million valued at N12.722 million in 16 deals.