By Providence Obuh
Despite a significant improvement in trading on the Nigerian Stock Exchange (NSE), Wednesday, the value of listed equities dropped by N6.87 billion.

Equities’ trading appreciated by 51.76 per cent, as a turnover of 266.08 million shares valued at N2.45 billion was recorded in 6,522 deals. This is comparison  with the previous day’s turnover of 175.32 million shares valued at N1.60 billion in 5,914 deals.

The two-day bullish trend on the NSE was halted as the key market indices — the All-share index and market capitalisation both dropped by 0.11 per cent each.

The capitalisation closed at N6.174 trillion from N6.181 trillion at which it opened, while the index shed 28.25 basis points from 25,384.14 points at which it opened.

Cadbury Nigeria Plc recorded the most share price loss dropping by N1.42 to close at N27.17 per share, Nigerian Breweries Plc followed with a loss of N1.00 to close at N63.00 per share and Flour Mills Nigeria Plc dipped by N0.40 to close at N69.00 per share.

Other share price losers include: Honeywell Flour Mill Plc N0.40, International Breweries Plc N0.35, First Bank of Nigeria Plc N0.33, National Salt Company Nigeria Plc N0.24, Oado Oil Plc N0.20, Eco Bank Nigeria Plc N0.20, A.G Leventis Nigeria Plc N0.20, among others.

Conversely, Benue Cement Company Plc led on the gainers table rising by N3.00 to close at N63.00 per share, followed by Lafarge Cement WAPCO Plc with a gain of N1.00 to close at N39.00 per share and Cement Company of Northern Nigeria Plc garnered N0.70 to close at N17.60 per share.

Trading was boosted by activity in the Banking sub-sector, as transaction in the sub-sector accounted for 50.27 per cent of the market turnover with 133..76 million shares valued at N1.22 billion in 3,307 deals.

Shares of First Bank Nigeria Plc were the most sought after in the sub-sector, trading 32.11 million shares valued at N419.13 million in 832 deals, United Bank for Africa Plc followed with the exchange of 18.70 million shares valued at N199.30 million in 308 deals and Skye Bank Plc recorded 15.08 million shares valued at N121.82 million in 136 deals.
The Insurance sub-sector followed on the sectorial analysis, accounting for 16.65 per cent of the market turnover, with 44.31 million shares valued at N43.38 million in 327 deals.  Goldlink Insurance Plc emerged the most active in the sub-sector, trading 13.04 million shares valued at N8.45 million in 15 deals, International Energy Insurance Plc followed with the exchange of 6.74 million shares valued at N3.38 million in 27 deals and African Alliance Insurance Plc recorded 5.00 million shares valued at N2.50 million in two deals.