By MICHAEL EBOH

The upward trend on the Nigerian Stock Exchange, NSE, continued last week, as investors recorded an appreciation of N201.164 billion on their investments in the secondary segment of the capital market.

In particular, investment value, represented by the market capitalization, appreciated by 2.85 per cent to close the week at N7.259 trillion from N7.059 trillion at which it opened.

The All-share index also appreciated by 2.85 per cent to close at 22,741.06 points, rising by 630.15 basis points from 22,110.91 points at which it opened the week.

The improvement in the market indices was engendered by renewed interest in the capital market, spurred by the low prices of majority of the listed equities.

Another major factor responsible for the upward trend recorded in the indices was the activity of foreign investors, seeking to increase their presence in the Nigerian capital market.

Dangote Cement Plc recorded the most share price gain, leading 31 other companies in the week under review, with a gain of N8 to close at N116 per share from N118 per share at which it opened the week; Nigerian Breweries Plc followed with a gain of N4.31 to close at N110.01 per share and Guinness Nigeria Plc garnered N3 to close at N228 per share.

Other share price gainers include: Seven-Up Bottling Company Plc N2, UACN Property Development Company Plc N1.03, Conoil Plc N0.93, Union Bank Nigeria Plc N0.84, Lafarge Cement WAPCO Plc N0.49, Unilever Nigeria Plc N0.44, Dangote Sugar Refinery Plc N0.42 among others.

On the contrary, Flour Mills Nigeria Plc led 32 other companies on the price losers’ category, dropping by N3.80 to close at N53 per share; Nestle Nigeria Plc followed with a loss N3.04 to close at N495 per share and Arbico Plc shed N1.11.

Other share price losers include: Roads Nigeria Plc N1.05, Chemical and Allied Products Plc N0.86, Cement Company of Northern Nigeria Plc N0.61, Cadbury Nigeria Plc N0.59, Forte Oil Plc N0.57, Beta Glass Company Plc N0.55, PZ Cussons Nigeria Plc N0.50 among others.

Equity trading appreciated by 44.89 per cent in the week under review, as a turnover of 1.459 billion shares valued at N9.618 billion was recorded in 18,276 deals; in contrast to the previous week’s turnover of 1.007 billion shares valued at N8.507 billion recorded in 18,352 deals.

The Financial Services sector was the most active with 1.145 billion shares valued at N5.403 billion traded in 10,393 deals. This was followed by the Conglomerates sector with 77.79 million shares valued at N140.502 billion traded in 680 deals.

Two sub-sectors both from the financial sector were the most active during the week with 1.137 billion shares worth N5.398 billion exchanged by investors in 10,340 deals. Volume in the sub sectors was largely driven by activity in the shares of United Bank for Africa Plc, Diamond Bank Plc and Sovereign Trust Insurance Plc.

Trading in the shares of the companies accounted for 473.165 million shares, representing 41.62 per cent, 41.32 per cent and 32.43 per cent of the turnover recorded by the sector, sub-sector and total equities turnover for the week, respectively.

The NSE also changed the name of one of its sub-sectors under Construction/Real Estate sector from Non-Building/Heavy Construction to Infrastructure/Heavy Construction. The NSE disclosed that the change took effect from 11th July, 2012.