By Nkiruka Nnorom

Activities moderated last week at the Nigerian Stock Exchange, NSE, as investors recorded N3 billion gains in their investment propelled by price rise in 35 equities.

Transaction closed weak for most part of the week from Monday to Wednesday, but recorded a reversal on Thursday and Friday, thereby resulting in rise in the market capitalisation by N3 billion. Consequently, the market capitalisation, which opened at N9.703 trillion appreciated by 0.3 per cent to close at N9.733 trillion.

The second measurement barometer, the All share Index, ASI, rose by the same margin to close at 28,335.40 points from 28,247.07 points.

Similarly, all other Indices finished higher during the week, with the exception of the NSE banking, NSE industrial goods and the NSE Pension indices that depreciated by 2.26 per cent, 0.84 per cent and 0.59 per cent respectively while the NSE ASeM Index closed flat.

The NSE consumer goods index appreciated the most, rising by 2.52 per cent on account of 9.38 per cent and 9.12 per cent increase on shares of Flour Mills of Nigeria Plc and Dangote Flour Mills Plc respectively. The oil and gas sector followed by 1.38 per cent increase driven by activities on the shares of Seplat Petroleum Development Company Plc, while the NSE insurance index appreciated by 0.93 per cent.

35 companies recorded price gains led by Law Union & Rock Insurance, which appreciated by 32.73 per cent or N0.18 to close at N0.73 per share.

This was followed by UACN Property Development Co. Plc with 16.18 per cent or N0.55 to close at N3.95 per share, while Learn Africa Plc’s shares rose by 13.79 per cent to close at N0.66. Flour Mills of Nigeria Plc and Continental Reinsurance went up by 9.38 per cent apiece to close at N21.92 and N1.06 per share respectively.

On the other hand, Caverton Offshore Support Group Plc led the other 31 losers, depreciating by 27.62 per cent or N0.29 to close at N0.76, followed by Ashaka Cement Plc with 18.45 per cent or N3.68 decline to close at N16.27, while Conoil Plc fell by 15.06 per cent or N6.40 to close at N36.10 per share.