By Michael Eboh and Providence Obuh
The declining fortune of the key performance indicators of the Nigerian Stock Exchange continued, Wednesday, as the market capitalisation and All-share index both dropped by 0.78 per cent each, leading to a decline in equities’ value by N48.91 billion.

In particular, the market capitalisation dipped by 0.78 per cent to close at N6.215 trillion from N6.264 trillion at which it opened, while the index shed 201.11 basis points to close at 25,554.35 point from 25,755.46 points.

The decline in the performance indices was occasioned by losses on the share prices of highly capitalised companies, with Oando Oil Plc leading the pack, with a loss of N2.51 to close at N73.99 per share, followed by Benue Cement Company Plc with a loss of N1.50 to close at N63.00 per share and PZ Cusson Nigeria Plc dipped by N1.49 to close at N30.00 per share.

Other share price losers include: Unilever Nigeria Plc N0.99, Glaxo Smithkline Plc N0.50, Lafarge Cement WAPCO Plc N0.50, First Bank of Nigeria Plc N0.47, Longman Nigeria Plc N0.36, Costain Weast Africa Plc N0.35, Diamond Bank Plc N0.31, among others.

On the other hand, Eterna Oil Plc led 25 other stocks on the gainers’ table with N0.35 to close at N7.48 per share, followed by Zenith Bank Plc with a gain of N0.34 to close at N14.55 per share and Honeywell Flour Mill Plc N0.15 to close at N8.45 per share.

Other share price gainers include: Dangote Flour Mills Plc N0.13, C& I Leasing Plc N0.12, Starcomms Plc N0.11, UAC Nigeria Plc N0.10, Ikeja Hotel Plc N0.08, Afribank Nigeria  Plc N0.06, Union Bank Nigeria Plc N0.06, among others.

The declining trend continued in equities’ trading, as a turnover of 314.36 million shares valued at N2.38 billion was recorded in 6,025 deals, dropping by 15.01 per cent from the previous day’s turnover of 369.90 million shares valued at N2.67 billion in 7,759 deals.

Banking stocks were the most sought after on the sectorial analysis, accounting for 47.54 per cent of the market turnover with 149.46 million shares valued at N1.39 billion in 3,134 deals.  Zenith Bank Niger Plc recorded the most patronage in the sub-sector trading 34.95 million shares valued at N508.02 million in 422 deals, Guaranty Trust Bank Plc followed with the exchange of 23.65 million shares valued at N393.22 million in 527 deals and Fidelity Bank Plc recorded 15.65 million shares valued at N40.81 million in 121 deals.

The Second-tier securities segment, followed on the sectorial analysis, accounting for 16.18 per cent of the market turnover, with 50.89 million shares valued at N25.44 million in four deals. Capital Oil Plc solely recorded 50.89 million shares valued at N25.44 million in four deals.