STOCK MARKET CAPITALISATION DIPS BY N100.5BN

BY PROVIDENCE OBUH
Equities trading on the Nigerian Stock Exchange (NSE) , last week, slumped as the value of listed equities represented by the market capitalisation declined by N100.5 billion.

In particular, the capitalisation shed 1.52 per cent to close at N6.516 trillion from N6.616 trillion at which it opened the week under review.

Another key performance index, the All share index dropped by 1.77 per cent or 370.75 bases points to close at 20,532.41 points from 20,903.16 points at which it opened.

Thirty-seven stocks depreciated in price, lower than the 39 of the preceding week. Dangote Cement Plc led on the price losers' table, dropping by N4.00 or 3.7 per cent to close at N103.00 per share, Lafarge WAPCO Cement Plc followed with a loss of N3.50 or 8.3 per cent to close at N38.50 per share and Oando Plc N3.30 or 11.4 per cent to close at N25.60 per share.

Other share price losers include: Chemical & Allied Products Plc N2.55, Flour Mills Of Nigeria Plc N2.01, Stanbic IBTC Bank Plc N1.20, Dangote Sugar Refinery Plc N0.98, Eterna Oil & Gas Plc N0.85, Dangote Flour Mills Plc N0.78, Access Bank Plc N0.57,

Meanwhile, Guinness Nigeria Plc led on the gainers' table with a gain of N8.00 or 4.0 per cent to close at N210.00 per share, UACN Plc followed with a gain of N2.00 or 6.9 per cent to close at N31.00 per share and NCR Nigeria Plc garnered N1.48 or 21.2 per cent to lose at N8.45.

Other share price gainers include: Nestle Nigeria Plc N0.99, The Okomu Oil Palm Plc N0.96, Forte Oil Plc N0.92, UACN Property Development Company Plc N0.76, Roads Nigeria Plc N0.66, Guaranty Trust Bank Plc N0.46, Honeywell Flour Mills Plc N0.37, among others.

Equity trading declined by 84.59 per cent as a turnover of 1.31 billion shares valued at N12 billion was recorded in 17,863 deals in the week under review, in contrast to the previous week's turnover of 8.5 billion shares valued at N24.5 billion in 19,706 deals.

The Banking sub-sector of the Financial Services sector was the most active during the week accounting for 70.91 per cent of the market turnover with 929.9 billion shares valued at N8.34 billion exchanged by investors in 9,436 deals.

Volume in the Banking sector was largely driven by activity in the shares of, Zenith Bank Plc trading 222.54 million shares valued at N2.83 billion in 1,239 deals, United Bank for Africa Plc followed with the exchange of 185.25 million shares valued at N569.17 million in 1,167 deals and Guaranty Trust Bank Plc recorded 214.17 million shares valued at N 3,121 billion in 2,288 deals.

The Insurance sub-sector followed the Financial Services sector, with a sector turnover of 178.94 million shares valued at N117.71 million traded in 1,202 deals. Mutual Benefits Assurance Plc boosted activity in the sector trade trading 62,03 million shares valued at N 31 million in 121 deals and Continental Reinsurance Plc followed on the week's activity chart with N36.62 million shares valued at N 36.61 in nine deals.

However, three of the four sectorial indices depreciated a reversal of the preceding when three of them appreciated. The NSE insurance index appreciated by 1.70 points or 1.1 per cent to close at 151.93. However, the NSE Food/Beverage Index depreciated by 14.69 points or 2.3 per cent to close at 618.77.

The NSE Banking Index depreciated by 4.95 points or 1.65 per cent to close at 296.06. The NSE Oil/Gas Index depreciated by 7.60 points or 3.1 per cent to close at 237.74.