Value of shares on NSE dips by N171bn

BY MICHAEL EBOH
A decline was recorded in transactions on the Nigerian Stock Exchange, NSE, last week, as the value of listed equities, represented by the market capitalisation dipped by N170.86 billion.

The capitalisation, which opened the week at N6.72 trillion depreciated by 2.54 per cent to close the week at N6.549 trillion. The All-share index shed 538.75 basis points or 2.54 per cent to close the week at 20,652.47 points from 21,191.22 points at which it commenced the week’s trading.

Nestle Nigeria Plc led 38 other companies on the price losers’ category, dropping by N45.07 to close at N417.30 per share from N462.37 per share at which it opened; Total Nigeria Plc followed with a loss of N23.22 to close at N139.69 per share and Mobil Oil Nigeria Plc dipped by N6.98 to close at N132.67 per share.

On the contrary, Okomu Oil Palm Plc led 24 other companies on the price gainers’ table, rising by N3.81 to close at N28.01 per share from N24.20 per share at which it opened; Chemical and Allied Products Plc followed with a gain of N 2.52 to close at N18.52 per share and Guinness Nigeria Plc garnered N1.84 to close at N239.84 per share.

Equity trading, however, appreciated by 19.06 per cent, as a turnover of 1.443 billion shares valued at N11.528 billion in 18,849 deals, in contrast to penultimate week’s turnover of 1.212 billion shares valued at N15.7 billion in 17,979 deals.

Financial Services sector recorded the most transaction, accounting for 78.03 per cent of the market turnover, with the exchange of 1.126 billion shares valued at N7.03 billion in 10,896 deals.

Consumer Goods sector followed on the sectorial analysis, accounting for 5.128 per cent of the market turnover with 74.337 million shares valued at N2.862 billion in 3,324 deals.

Banks’ stocks were the most sought after, as trading in the sub-sector accounted for 64.17 per cent of the total market turnover. Specifically the sub-sector recorded 925.55 million shares valued at N6.89 billion in 10,340 deals.

The Insurance Carriers, Brokers and Services sub-sector followed with the exchange of 200.4 million shares valued at N141.71 million in 554 deals.