INVESTMENT VALUE ON NSE DIPS BY N60BN

BY MICHAEL EBOH & FAVOUR AGBI
Driven by losses on the share prices of majority of the blue-chip companies, the value of listed equities on the Nigerian Stock Exchange, NSE, depreciated last week by N59.59 billion.

The value of listed equities, represented by the market capitalization, dipped by 0.93 per cent to close the week at N6.332 trillion from N6.391 trillion at which it opened the week.

The All-share index also shed 0.93 per cent or 189.37 basis points to close the week at 20,122.14 points from 20,311.51 points.

Glaxo SmithKline Consumer Plc led 43 other companies on the price losers' category, with a loss of N1.35 to close at N25.65 per share, from N27.00 per share at which it opened, Ecobank Transnational Incorporated followed with a loss of N0.83 to close at N10.42 per share and UAC Nigeria Plc shed N0.78 to close at N28.80 per share.

Other share price losers include: Zenith Bank Plc N0.74, Dangote Flour Mills Plc N0.54, Ikeja Hotels Plc N0.53, Vitafoam Nigeria Plc N0.48, GTBank Plc N0.42, United Bank for Africa Plc N0.38 and Skye Bank Plc N0.37 among others.

On the contrary, Dangote Cement Plc led 19 other companies on the price gainers' table, rising by N2 to close at N105.10 per share, from N103.10 per share at which it opened, Forte Oil Plc followed with a gain of N2.00 to close at N14.79 per share and Okomu Oil Palm Plc garnered N1.17 to close at N24.58 per share.

Other share price gainers include: Lafarge Cement WAPCO Plc N0.99, Flour Mills Nigeria Plc N0.50, Ashaka Cement Plc N0.44, NCR (Nigeria) Plc N0.42, Roads Nigeria Plc N0.35, CAP Plc N20 and University Press Plc N0.14 among others.

The declining trend continued in equity trading as a turnover of 1.236 billion shares valued at N9.358 billion was recorded in 16,529 deals, dropping by 1.44 per cent from the previous week's turnover of 1.254 billion shares valued at N10.34 billion in 17,992 deals.

The Financial Services sector recorded the highest transaction in the sectorial analysis, accounting for 55.66 per cent of the market turnover, with 688.351 million shares valued at N4.333 billion in 9,211 deals.

Banking stocks were the most sought after in the sector, with three banks -Access Bank Plc, First Bank of Nigeria Plc and Zenith Bank Plc accounting for majority f the transactions in the sector.

Access Bank enjoyed the most patronage, trading 161.6 million shares valued at N784.242 million in 566 deals, First Bank followed with the exchange of 135.373 million shares valued at N1.305 billion in 2,551 deals and Zenith Bank Plc recorded 66.816 million shares valued at N801.94 million in 1,069 deals.

The Consumer Goods sector followed on the sectorial analysis, accounting for 37.14 per cent of the total market turnover, with 459.214 million shares valued at N4.232 billion in 3,325 deals. International Breweries Plc recorded the highest patronage in the sector, trading 317.211 million shares valued at N1.903 billion in 32 deals, followed by Premier Breweries Plc with the exchange of 88.57 million shares valued at N84.77 million in 30 deals and Nigerian Breweries Plc recorded 14.56 million shares valued at N1.336 billion in 762 deals.