By Nkiruka Nnorom

Gain recorded by two oil and gas firms, Seplat Petroleum Development Company Plc and Caverton Offshore Support Group Plc last week resulted in N9 billion increase in investors’ wealth.

Specifically, Caverton’s shares notched up by 13.43 per cent to close at N0.76, while Seplat appreciated by 10.25 per cent to close at N385.88 ahead of 20 other stocks that recorded various price increases during the week.

Consequently, the market capitalisation of all listed securities, which represents investors’ wealth went up by N9 billion from N9.561 trillion to N9.570 trillion, indicating 0.09 per cent increase. The second measurement barometer, the All Share Index, ASI, appreciated by the same margin to close at 27,861.03 points from 27,835.22 points.

Similarly, all other indices finished higher during the week with the exception of the NSE Main Board, NSE Insurance index and the NSE Industrial Goods index that declined by 0.21 per cent, 0.55 per cent and 3.59 per cent in that order, while the NSE ASeM Index closed flat.

The trading statistics showed that the banking sector recorded the most gain at 1.95 per cent on the back of 9.80 per cent and 5.41 per cent increase in Zenith International Bank Plc and Access Bank Plc. The NSE Consumer goods index rose by 0.57 per cent, while the oil and gas sector was up 0.25 per cent driven by Seplat’s shares.

A total of 22 stocks appreciated in price during the week, same as the previous week, while 42 stocks depreciated in price, higher than 35 of the previous week.

UACN Property Development Co. Plc led the losers with 13.67 per cent or N0.54 decline to close at N3.41, followed by Lafarge Africa with 9.96 per cent or N4.70 to close at N42.50 per share. E-Transact closed as the third, dropping by 9.67 per cent or N0.55 to close at N5.15, while Forte Oil and Pharma Deko Plc closed as the last five on the top losers chart, depreciating by 9.24 per cent or N14.78 and 9.09 per cent or N0.17 close at N145.12 and N1.70 respectively.

A turnover of 1.163 billion shares worth N9.251 billion were exchanged by investors in 14,992 deals during the week. The financial services sector measured by volume led the activity chart with 1.022 billion shares valued at N5.890 billion traded in 8,812 deals; thus contributing 87.93 per cent and 63.68 per cent to the total equity turnover volume and value respectively.