Investment value on NSE dips by N85bn

BY MICHAEL EBOH & PROVIDENCE OBUH

Investment value on the Nigerian Stock Exchange, NSE, dipped last week by N85.38 billion, as the market capitalization and All-share index both depreciated by 1.03 per cent each.

The capitalization which opened the week at N8.301 billion shed N85.38 billion to close the week at N8.216 billion, while the index shed 267.04 basis points to close at 25,696.46 points.

Guinness Nigeria Plc led 46 other stocks in price during the week, on the price losers’ table, lower than the 49 of the preceding week, dropping by N6.00 or 2.39 per cent to close at N245.00 per share, Oando Plc followed with a loss of N2.50 or 4.72 per cent to close at N50.50 per share and Conoil Plc dipped by N1.89 or 4.51 per cent to close at N40.00 per share.

Nigerian Bottling Company Plc led 27 other stocks on the gainers’ table lower than the 31 of the preceding week with a gain of N5.58 or15.72 per cent to close at N41.08 per share, Chemical & Allied Products Plc followed with a gain of N2.87 or 10.22 per cent to close at N30.96 per share and Glaxo SmithKline Consumer Nigeria Plc garnered N1.25 or 4.61 per cent to close at N28.35 per share.

Equity trading appreciated slightly by 9.15 per cent, as a turnover of 1.253 billion shares valued at N9.48 billion was recorded in 23,922 deals in contrast to the previous week’s turnover of 1.148 billion shares valued at N11.515 billion exchanged last week in 20,708 deals.

The Banking sector recorded the highest patronage on the sectorial analysis, accounting for 48.92 per cent of the market turnover, with 613.179 million shares valued at N4.9327 billion in 13,018 deals. Shares of Zenith Bank Plc were the most sought after in the sub-sector, trading, as investors exchanged its shares numbering 102.5 million shares valued at N1.54 billion in 1,377 deals, Access Bank Plc followed with the exchange of 71.77 million shares valued at N535.71 million in 1,031 deals and First Bank of Nigeria Plc recorded 67.01 million shares valued at N907.27 million in 2,907 deals.