By MICHAEL EBOH & CHINEDU IBEABUCHI

A significant decline was re corded in investment value on the Nigerian Stock Exchange, last week, as the market capitalization of listed equities dipped by N85.625 billion.

Specifically, the market capitalization, representing investment value, depreciated by 1.21 per cent to close the week at N7.005 trillion from N7.090 trillion at which it opened the week.

The All-share index, another major indicator for measuring market trend, dipped by 1.21 per cent or 268.49 basis points to close the week at 21,963.87 points from 22,232.36 points.

Nigerian Breweries Plc led 32 other stocks in the price losers category, dropping by 2.78 per cent to close the week at N105 per share; UAC Nigeria Plc followed with a share price depreciation of 4.83 per cent or N1.69 to close at N33.31 per share and Zenith Bank Plc dipped by N1.35 or 9.12 per cent to close at N13.45 per share.

Other share price losers include: Lafarge Cement WAPCO Plc N1.14, Flour Mills Nigeria Plc N1.04, Julius Berger Nigeria Plc N0.99, Okomu Oil Palm Plc N0.87, National Salt Company Plc N0.69, NCR Nigeria Plc N0.68, First City Monument Bank Plc N0.65 among others.

On the contrary, PZ Cussons Nigeria Plc led 21 other companies in the price gainers’ category, rising by 5.22 per cent to close at N24.20 per share; Glaxo Smithkline Consumer Plc followed with a share price appreciation of five per cent to close at N21 per share and Unilever Nigeria Plc garnered N0.70 or 2.47 per cent to close at N29 per share.

Other share price gainers include: Presco Plc N0.65, International Breweries Plc N0.49, Access Bank Plc N0.23, Stanbic IBTC Bank Plc N0.21,Union Bank Nigeria Plc N0.20, May & Baker Nigeria Plc N0.18 and Cement Company of Northern Nigeria Plc N0.12 among others.

Equity trading also dipped by 25.23 per cent in the week under review, as a turnover of 1.301 billion shares valued at N9.46 billion was recorded in 14,792 deals, in contrast to penultimate week’s turnover of N1.74 billion shares valued at N15.108 billion in 19,754 deals.

The Financial Services sector recorded the highest patronage, accounting for 56.73 per cent of the total market turnover, with 737.805 million shares valued at N5.896 billion in 8,553 deals. The Conglomerates Sector followed with with 269.168 million shares valued at N314.298 million traded in 692 deals.

Banks’ stocks were the most sought after in the week under review,  as investors traded 642.493 million banks’ shares valued at N5.832 billion in 8,258 deals. Transaction in t he sub-sector was driven by Guaranty Trust Bank Plc, First Bank of Nigeria Plc and United Bank for Africa Plc.

Trading in the shares of the three banks accounted for 367.294 million shares, representing 57.17 per cent, 49.78 per cent and 28.23 per cent of the turnover recorded by the sector, sub-sector and total equities turnover for the week, respectively.