BY PROVIDENCE OBUH
Trading on the Nigerian Stock Exchange, NSE witnessed a slight drop last week as the value of listed equities represented by the market capitalisation dipped by N4.73 billion.

Specifically, the capitalisation shed 0.07 per cent to close at N6.579 trillion from N6.584 trillion at which it opened the previous week.

Another key performance indicator, the All-share index dropped by 0.07 per cent or 15.02 basis points to close at 20,877.64 points from 20,892.66 points.

Guinness Nigeria Plc led 40 other stocks on the price losers’ table, lower than the 42 of the preceding week, dropping by N10.00 or 4.3 per cent to close at N220.00 per share, MRS Oil Nigeria Plc followed with a loss of N7.98 or 14.2 per cent to close at N48.07 per share and Dangote Cement Plc dipped by N4.04 or 3.4 per cent to close at N115.96 per share.

Other share price losers include: Conoil Plc N3.00, Oando Plc N2.80, Julius Berger Nigeria Plc N2.39, Cadbury Nigeria Plc N1.38, Vitafoam Nigeria Plc N0.89, Chemical & Allied Products Plc N0.72, Ashaka Cement Plc N0.49, among others.

On the contrary, Nestle Nigeria Plc led 25 other stocks on the gainers’ table with a gain of N10.00 or 2.3 per cent to close at N440.00 per share, Nigerian Breweries Plc followed with a gain of N1.93 or 2.1 per cent to close at N120.00 per share and Nigerian Aviation Handling Company Plc garnered N1.23 or 18.5 per cent to close at N7.87 per share.

Other share price gainers include: Flour Mills of Nigeria Plc N0.90, Guaranty Trust Bank Plc N0.90, Berger Paints Nigeria Plc N0.85, Lafarge Cement WAPCO Nigeria Plc N0.82, First Bank of Nigeria Plc N0.65, UAC of Nigeria Plc 0.49, Access Bank Plc N0.37, among others.

Equity trading appreciated by 21.92 per cent as a turnover of 1.613 billion shares valued at N15.1 billion was recorded in 17,444 deals in the week under review, compared to the previous week’s turnover of1.323 billion shares valued at N10.1 billion in 15,973 deals.

The Banking sub-sector of the Financial Services sector was the most active during the week accounting for 58.77 per cent of the market turnover with 948.21 million shares valued at N4.3 billion exchanged by investors in 9,312 deals.

Volume in the Banking sub-sector was largely driven by activity in the shares of UBA Plc trading 359.96 million shares valued at N717.24 million in 935 deals, Fidelity Bank Plc followed with the exchange of 151.68 million shares valued at N227.54 million in 447 deals and First Bank of Nigeria Plc recorded 105.87 million shares valued at N1.08 billion in 2,797 deals.

The Insurance sub-sector of the Financial Services sector trailed on the sectorial analysis accounting for 15.50 per cent of the market turnover with 250.311 million shares valued at N148.86 million traded in 607 deals.

NEM Insurance Company Nigeria Plc enjoyed the highest patronage in the sub-sector trading 147.19 million shares valued at N73.60 million in 117 deals, Goldliknk Insurance Plc followed with the exchange of 41.22 million shares valued at N24.96 million in 46 deals and AIICO Insurance Plc recorded 21.41 million shares valued at N10.85 million in 111 deals.