BY MICHAEL EBOH
A slight decline was recorded in the value of listed equities on the Nigerian Stock Exchange, NSE, last week, as the Market capitalisation and All-share index both dipped by 0.09 per cent each.

The capitalisation, representing the value of listed equities, dipped by N6.507 billion to close the week at N6.561 trillion from N6.567 trillion at which it opened, while the All-share index shed 20.65 basis points to close at 20,820.32 points from 20,840.97 points.

The decline in the market indices was as a result of losses on the share prices of majority of the blue chips companies, led by Guinness Nigeria Plc with a loss of N5 to close at N230 per share from N230 per share at which it opened, Nestle Nigeria Plc followed with a loss of N3.88 per share from N423.38 per share, causing it to close at N419.50 per share and Nigerian Breweries Plc shed N2.05 to close at N94.05 per share.

Other share price losers include: Flour Mills Nigeria Plc – N2.00, Dangote Flour Mills Plc – N0.58, Vitafoam Nigeria Plc – N0.54, Guaranty Trust Bank Plc – N0.53, UC Nigeria Plc – N0.53, Union Bank Nigeria Plc – N0.50 an d University Press Plc – N0.32 among others.

On the contrary, Lafarge Wapco Cement Plc, led 29 other companies on the price gainers’ chart, with a gain of N1.85 to close at N45.50 per share from N43.65 per share at which it opened the week, Dangote Cement Plc followed with a gain of N1.49 to close at N118 per share from N116.51 per share at which it opened, while Cement Company of Northern Nigeria Plc garnered N1.02 to close at N5.85 per share.

Other share price gainers include: Nigerian Aviation Handling Company Plc – N0.86, CAP Plc – N0.72, UAC Nigeria Property Development Company Plc – N0.60, Unilever Nigeria Plc – N0.60, First Bank of Nigeria Plc – N0.48, Julius Berger Nigeria Plc – N0.45 and May & Baker Nigeria Plc – N0.35 among others.

However, a significant improvement was recorded in equity trading in the week under review, as a turnover of 733.55 million shares valued at N5.21 billion was recorded in 12,782 deals, in contrast to penultimate week’s turnover of 308.803 million shares valued at N3.64 billion in 1,217 deals.

The Financial Services sector recorded the highest transaction, accounting for 80.07 per cent of the market turnover, with 587.331 million shares valued at N2.625 billion in 6,702 deals.

Banking stocks were the most sought after in the Financial Services sector, with the Diamond Bank Plc recorded the highest transaction, with 123.44 million shares valued at N256.359 million in 204 deals, Skye Bank Plc followed with the exchange of 77.856 million shares valued at N290.845 million in 371 deals and United Bank for Africa Plc recorded 65.755 million shares valued at N158.815 million in 566 deals.

The Services sector followed on the sectorial analysis, accounting for 6.51 per cent of the market turnover, with 47.7 million shares valued at N48.42 million in 575 deals. C & I Leasing Plc in the Employment Solutions sub-sector recorded the highest transaction in the sector, trading 29.877 million shares valued at N17.855 million in 79 deals, Transnational Corporation of Nigeria Plc, in the Hotels/Lodging sub-sector, followed with the exchange of 9.116 million shares valued at N5.639 million in 162 deals and Ikeja Hotel Plc recorded 2.67 million shares valued at N4.245 million in 43 deals.