By MICHAEL EBOH & CHINEDU IBEABUCHI
Equities’ value on the Nigerian Stock Exchange, NSE, represented by the market capitalization, dipped last week by N338.339 billion.

The capitalization which opened the week at N7.005 trillion shed 4.83 per cent to close the week at N6.666 trillion.

The All-share index also dipped by 1,060.92 basis points or 4.83 per cent to close the week at 20,902.95 points from 21,114.64 points at which it opened.

The decline in the market indices was driven by losses on the prices of major blue chip companies, led by Dangote Cement Plc, with a share price depreciation of 9.12 per cent or N10.24 to close the week at N102.01 per share; Nigerian Breweries Plc followed with a depreciation of 8.57 per cent or N9 to close at N96 per share and Julius Berger Nigeria Plc dipped by N3.93 to close at N29.08 per share.

Other share price losers include: UAC Nigeria Plc N3.40, Ashaka Cement Plc N1.63, Conoil Plc N1.27, Oando Plc N1.04, Access Bank Plc N0.86, Chemical and Allied Products Plc N0.85 and First Bank of Nigeria Plc N0.70 among others.

Conversely, Guinness Nigeria Plc led 21 other companies on the price gainers’ category, with a share price appreciation of 2.24 per cent or N5.01 to close the week at N229 per share; Lafarge Wapco Cement Plc followed with a share price gain of N0.81 or 1.97 per cent to close at N42.01 per share and University Press Plc garnered N0.61 to close at N4.60 per share.

Other share price gainers in the week under review include: May & Baker Nigeria Plc N0.37, National Salt Company Nigeria Plc N0.31, PZ Cussons Nigeria Plc N0.30, Transnational Corporation of Nigeria Plc N0.24, Rt. Briscoe Plc N0.21, Japaul Oil and Maritime Services Plc N0.15 and Neimeth International Pharmaceuticals Plc N0.12 among others.

Equities trading dipped by 12.14 per cent as investors exchanged 1.143 billion shares valued at N8.861 billion in 18,880 deals, in contrast to the previous week’s turnover of 1.301 billion shares valued at N9.46 billion exchanged in 14,792 deals.

The Financial Services sector recorded the highest transaction in the sectorial analysis, accounting for 73.58 per cent of the market turnover, with 840.921 million shares valued at N6.157 billion in 11,038 deals.  The Conglomerates Sector followed, accounting for 10.06 per cent of the market turnover with 114.532 million shares valued at N256.813 million in 1,014 deals.

The Banking sub-sector in the Financial Services sector enjoyed the most patronage, trading 700.158 million shares valued at N6.074 billion in 10,559 deals; representing 61.24 per cent of the total market turnover.

Transaction in the Banking sub-sector was driven by First Bank of Nigeria Plc., Zenith Bank Plc and Guaranty Trust Bank Plc. Trading in the shares of the three banks accounted for 391.553 million shares, representing 55.92 per cent, 46.56 per cent and 34.28 per cent of the turnover recorded by the sector, sub-sector and total equities turnover for the week, respectively.