INVESTMENT VALUE ON NSE DIPS BY N124BN
BY MICHAEL EBOH & PROVIDENCE OBUH
The value of investment on the Nigerian Stock Exchange, NSE, depreciated last week by N123.83 billion, as the market capitalisation and All-share index both shed 1.51 per cent each.
The capitalisation which opened the week at N8.216 billion shed N123.83 billion to close the week at N8.092 billion, while the index dipped by 387.29 basis points to close at 25,309.17 points from 25.696.46 points at which it opened.
Mobil Oil Nigeria Plc led on the price losers' table, dropping by N4.49 or 2.75 per cent to close at N159.00 per share, Nigerian Breweries Plc followed with a loss of N3.00 or 3.23 per cent to close at N90.00 per share and Dangote Cement Plc dipped by N2.00 or 1.52 per cent to close at N130.00 per share.
Other share price losers include: Ecobank Transnational Incorporated N1.25, Cadbury Nigeria Plc N1.20, Dangote Flour Mills Plc N1.14, Unilever Nigeria Plc N0.94, Stanbic IBTC Bank Plc N0.73, Dangote Sugar Refinery Plc N0.70, Ecobank Nigeria Plc N0.66, among others.
On the contrary, Nigerian Bottling Company Plc led on the gainers' table with a gain of N1.42 or 3.46 per cent to close at N42.50 per share, UACN Property Development Company Plc followed with a gain of N0.90 or 5.00 per share to close at N18.90 per share and Ashaka Cement Plc garnered N0.82 or 3.5 per cent to close at N24.34 per share.
Other share price gainers' include: Eternal Oil & Gas Plc N0.71, Lafarge Cement WAPCO Nigeria Plc N0.53, Oando Plc N0.50, UAC of Nigeria Plc N0.37, The Okomu Oil Palm Company Plc N0.30, Airline Services & Logistics Plc N0.24, Presco Plc N0.20, among others.
Equity trading appreciated by 23.22 per cent, as a turnover of 1.543 billion shares valued at N9.29 billion was recorded in 24,583 deals, in contrast to the previous week's turnover of 1.253 billion shares valued at N9.48 billion in 23,922 deals.
Banks' shares were the most sought after, as trading in the sub-sector accounted for 43.94 per cent of the market turnover, with 678.89 million shares valued at N5.064 billion in 14,377 deals.