Stock value drops by N26bn at the Nigerian Stock Exchange
Value of equities quoted on the Nigerian Stock Exchange, NSE, recorded N26.2 billion loss at end of trading this week.
The market capitalization shed 0.39 per cent to close at
N 6.62 trillion. Also, the All-share index dipped by 0.95 per cent, shedding 198.77 basis points in the week under review.
Mobil Oil Nigeria Plc topped the losers chart in the week under review, shedding N13.93 to close at N132.07 per share, from N146 per share at which it opened; Guinness Nigeria Plc followed with a loss of N5.05 to close at N225.09 per share and Flour Mills Nigeria Plc shed N3.99 to close at N54.01 per share.
Meanwhile, Nestle Nigeria Plc led the gainers table, soaring by N16.49 per share to close at N434.99 per share from N418.50 per share at which it opened; CAP Plc followed with a gain of N2.78 to close at N22.80 per share and Glaxo SmithKline Consumer Plc garnered N2.03 to close at N21 per share.
Investors exchanged 1.582 billion shares valued at N7.859 billion in 14,492 deals, appreciating by 37.68 per cent, as against the previous week’s turnover of 1.149 billion shares valued at N7.796 billion in 15,027 deals. The Financial Services sector accounted for 49.43 per cent of the total market turnover, with 782.146 million shares valued at N4.681 billion in 8,318 deals.
The Conglomerates sector followed, accounting for 40.89 per cent of the market turnover, with 647.095 million shares valued at N517.21 million in 400 deals.
The Banking subsector of the Financial Services sector was the most active in the sectorial analysis, trading 666.097 million shares valued at N4.525 billion in 7,900 deals. Volume in the Banking subsector was largely driven by activity in the shares of Unity Bank Plc, Zenith Bank Plc and Guaranty Trust Bank Plc. Trading in the shares of the three banks accounted for 306.529 million shares, representing 46.02 per cent, 39.19 per cent and 19.37 per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.