Market Value Declines by 1.5 Per cent
By Jerome Ushakang
The Nigerian Stock Exchange (NSE) yesterday recorded a drop in market capitalisation by 1.5 per cent or N27 billion.
Also, the all-share index decreased by 1.5 per cent just as investors and market operators said that the sluggish transactions and gluts that characterised trading in shares in the past few weeks seemed to be gradually fading away.
The activity performance chart of the NSE, however, revealed that the banking subsector was the most active in terms of volume. It recorded a turn-over of 48.9 million ordinary shares value at N992.9 million executed in 2,176 deals.
Union Bank of Nigerian Plc led the banking sub-sectors with the highest volume of 21.4 million ordinary shares worth N796.7 million in 919 deals. It was followed by First Atlantic Bank Plc that
recorded a turn-over of 6.2 million ordinary shares worth N4.3 million made in 8 deals. IMB International Bank Plc was third in the volume of equities having recorded a total of 4.7 million ordinary shares worth N2.6 million exchanged in 42 deals.
Breweries subsector followed on the activity chart with a total of four million ordinary share worth N245.7 million in 762 deals, with Nigerian Brewery Plc topping the subsector.
The company recorded a turn-over of 3.4 million ordinary share valued at N164.6 million in 630 deals. it was followed by Guinness Nigeria Plc with 554.062 ordinary shares worth N81.0 million in 131 deals was second, while Jos International Breweries Plc with 300 ordinary shares valued at N1,140.00 in one deal was placed third in the subsector.
The price movement chart indicated that 26 stocks recorded price appreciation.
Nestle Nigeria Plc topped the price gainers' chart with a gain of N7.71 kobo to close at N162.06 per share. It was followed by Conoil Plc which gained N6.50 kobo to close at N144.00 per share, while Total Nigerian Plc with a gain of N2.44 kobo to close at N186.00 per share was third.
Other price gainers in the top ten chart included 7Up Bottling Company Plc (129 kobo), Texaco Nigeria Plc (90 kobo), Flour Mills Nigeria Plc (69 kobo) West Africa Portland Company Plc (65 kobo) PZ industries Plc (44 kobo) UACN Property Development Company Plc (38 kobo) and Ashaka Cement Plc (25 kobo).
However, Nigeria Bottling Company Plc led the price loser chart, losing by N3.30 kobo to close at N62.70 kobo per share. Guinness Nigerian Plc lost N1.81 kobo to close at N144.80 per share, while Nigerian Brewery Plc with a loss of N1.50 kobo was third on the losers chart.
Other top price loser in the top ten chart were Mobil Oil Nigeria Plc (120 kobo) Presco Plc (30 kobo) GlaxoSmithkline Consumer (24 kobo) Union Bank of Nigerian Plc (21 kobo) and Wapic Insurance Plc (71 kobo).
On the whole a turn-over of 59.5 million ordinary share worth N1.3 billion was recorded in 4,011 deals.
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