NSE index, capitalisation plunge 0.40%

BY PROVIDENCE OBUH

The declining trend on the Nigerian Stock Exchange, NSE continued, Wednesday, as the indices for measuring the performance of listed equities, the market capitalisation and the All share index depreciated by 0.40 per cent each.

Specifically, the capitalization shed N32.04 billion to close at N7.968 trillion from N8.001 trillion at which it opened, while the index dipped by 100.2 bases points to close at 24,923.64 points from 25,023.84 points.

Conoil Plc led on the losers’ table, dropping by five per cent or N1.90 to close at N36.10 per share, Nigerian Aviation Handling Company Plc followed with a loss of N0.41 to close at N0.7.85 per share and Costain West Africa Plc declined by N0.13 to close at N2.58 per share.

On the contrary, Julius Berger Nigeria Plc led on the gainers’ table, rising by 4.96 per cent or N2.80 to close at N59.30 per share, Capital Oil Plc followed with a gain of N0.15 to close at N3.20 per share and Union Bank Nigeria Plc garnered N0.13 to close at N2.79 per share.

Other share price gainers include: Sterling Bank Plc N0.08, Niger Insurance Plc N0.03, UTC Nigeria Plc N0.03, UAC Property Development Company Plc N0.80, AIICO Insurance Plc N0.03, Longman Nigeria Plc N0.21, Finbank Plc N0.02, among others.

Equity trading appreciated by 13.88 per cent, as a turnover of 408.61 million shares valued at N2.12 billion was recorded in 5,488 deals, in contrast to the previous day’s turnover of 358.80 million shares valued at N2.24 billion in 6,251 deals.

The Banking sub-sector was the most sought after on the sectorial analysis, accounting for 41.90 per cent of the market turnover with 171.21 million shares valued at N1.07 billion in 2,798 deals. First Bank of Nigeria Plc was the most active in the sub-sector trading 23.09 million shares valued at N288.45 million in 543 deals, Diamond Bank Plc followed with the exchange of 21.66 million shares valued at N116.64 million in 74 deals and United Bank for Africa Plc recorded 17.51 million shares valued at N99.37 million in 303 deals.

The Media sub-sector followed on the sectorial analysis as it was boosted by activities of Daar Communications Plc accounting for 32.98 per cent of the market turnover with 134.77 million shares valued at N67.38 million in five deals.

However, NSE 30 which measures the performance of blue chips dropped by 0.49 per cent, NSE Banking dropped the highest points by 1.78 per cent, NSE Oil & Gas moved down by 1.30 per cent and NSE Food & Beverages shed 0.02 per cent and NSE Insurance appreciated by 0.73 per cent.