NSE SHARE VALUE DIPS FURTHER BY N31BN

By NBF News
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By Providence Obuh
The declining trend on the Nigerian Stock Exchange NSE continued, Wednesday, as equities value, represented by the market capitalisation dipped by N30.90 billion.

Specifically, the capitalisation dipped by 0.40 per cent to close at N7.629 trillion from N7.660 trillion at which it opened. Another key performance indices, the All share index dropped by 0.40 per cent or 96.63 bases points to close at 23,863.07 points from 23,959.70 points at which it opened.

Chemical and Allied Products Plc led on the price losers chart dropping by five per cent or N1.55 to close at N29.45 per share, Glaxo Smithkline Consumer Plc followed with a loss of 4.98 per cent or N1.21 to close at N23.11 per share and First City Monument Bank Plc dipped by 4.95 per cent or N0.33 to close at N6.33 per share.

Other share price losers include: Sterling Bank Plc N0.08, Access Bank Plc N0.33, Red Star Express Plc N0.14, Oceanic Bank Plc N0.06, C&I Leasing Plc N0.05, AIICO Insurance Plc N0.03, Bank PHB Plc N0.03, among others.

On the contrary, Capital Hotel Plc led on the gainers' table, rising by 4.90 per cent or N0.24 to close at N5.14 per share, Bags Manufacturing Company Plc followed with a gain of 4.65 per cent or N0.12 to close at N2.70 per share and Prestige Assurance Plc garnered 4.57 per cent or N0.08 to close at N1.83 per share.

Other share price gainers include: Guaranty Trust Assurance Plc N0.06, Skyebank Plc N0.29, Intercontinental Bank Plc N0.04, Wema Bank Plc N0.03, Union Bank Nigeria Plc N0.05, Japaul Oil and Maritime Services Plc N0.01, Cutix Plc N0.02, among others.

Equity trading depreciated by 4.83 per cent as a turnover of 172.11 million shares valued at N1.59 billion was recorded in 5,922 deals, in contrast to the previous day's turnover of 180.85 million shares valued at N1.44 billion in 5,857 deals.

The Banking sub-sector dominated the other sub-sector on the sectorial analysis, accounting for 62.59 per cent of the market turnover with 107.71 million shares valued at N965.47 million in 3,065 deals. Guaranty Trust Bank Plc was the most active in the sub-sector trading 22.34 million shares valued at N313.93 million in 734 deals, Zenith Bank Plc followed with the exchange of 19.16 million shares valued at N268.66 million in 366 deals.