INVESTMENT VALUE ON NSE DIPS BY 0.15%
BY MICHAEL EBOH & PROVIDENCE OBUH
The value of investment on the Nigerian Stock Exchange, NSE, dipped last week by N12.01 billion, as the indices for measuring the performance of listed equities, the market capitalization and all-share index both dipped by 0.15 per cent each.
Specifically, the capitalization which opened the week at N8.092 trillion shed N12.01 billion to close at N8.080 trillion, while the index shed 37.56 basis points to close at 25,271.61 points from 2525,309.17 points at which it opened.
Mobil Oil Nigeria Plc led on the price losers' table, dropping by N5.00 or 3.14 per cent to close at N154.00 per share, Guinness Nigerian Plc followed with a loss of N5.00 or 2.04 per cent to close at N240.00 per share and Oando Plc dropped by N2.05 or 4.02 per cent to close at N48.95 per share.
Other share price losers include: Nigerian Bottling Company Plc N1.60, Northern Nigeria Flour Mills Plc N1.46, GlaxoSmithKline Consumer Nigeria Plc N1.41, UAC of Nigeria Plc N1.26, National Salt Company of Nigeria Plc N0.81, Cement Company of Northern Nigeria Plc N0.75, Longman Nigeria Plc N0.57, among others.
On the other hand, PZ Cussons Nigeria Plc led on the gainers' table with a gain of N2.50 or 6.94 per cent to close at N38.50 per share, Flour Mills of Nigeria Plc followed with a gain of N0.97 or 1.1 per cent to close at N91.00 per share and Nestle Nigeria Plc garnered N0.51 or 0.13 per cent to close at N401.00 per share.
Other share price gainers' include: Julius Berger Nigeria Plc N0.50, Dangote Flour Mills Plc N0.48, Stanbic-IBTC Bank Plc N0.31, Oceanic Bank International Plc N0.28, Union Bank of Nigeria Plc N 0.26 12, Afribank Nigeria Plc N0.25, Unilever Nigeria Plc N0.24, among others.
However, a slight improvement was recorded in equity trading, as a investors exchanged 1.714 billion shares valued at N14.037 billion in 27,001 deals, in contrast to the previous week's turnover of 1.543 billion shares valued at N9.29 billion in 24,583 deals.
Bank's stock were the toast of the investors, as transaction in the sub-sector accounted for 41.48 per cent of the market turnover, with 711.353 million shares valued at N4.375 billion traded in 15,299 deals.
First Bank Nigeria Plc recorded the highest patronage in the sub-sector, trading 91.998 million shares valued at N1.16 billion in 3,274 deals, followed by GTBank Plc, with the exchange of 72.82 million shares valued at N1.14 billion in 2,632 deals and Diamond Bank Plc recorded 71.678 million shares valued at N393.65 million in 460 deals.
The Insurance sub-sector followed on the sectorial analysis, accounting for 19.25 per cent of the market turnover, with 330.057 million shares valued at 236.281 million in 2,455 deals.