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Market declines to N6.52trn

Three of the four sectorial indices depreciated, a reversal of the preceding when three of them appreciated. The NSE Insurance Index appreciated by 1.70 points or 1.1 per cent to close at 151.93.

However, the NSE Food/Beverage Index depreciated by 14.69 points or 2.3 per cent to close at 618.77.

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The NSE Banking Index depreciated by 4.95 points or 1.65 per cent to close at 296.06. The NSE Oil/Gas Index depreciated by 7.60 points or 3.1 per cent to close at 237.74.

Trading activities on the floor of the Nigerian Stock Exchange recorded a turnover of 1.31 billion shares worth N12 billion in 17,863 deals this week, in contrast to a total of 8.5 billion shares valued at N24.5 billion exchanged last week in 19,706 deals.

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The Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume); with 929.9 billion shares worth N8.34 billion exchanged by investors in 9,436 deals. Volume in the Banking sector was largely driven by activity in the shares of, Zenith Bank Plc and United Bank for Africa Plc. Trading in the shares of the two banks accounted for 407.8 million shares, representing 43.85 per cent and 31.2 per cent of the sector’s turnover and total volume traded during the week, respectively.

The Insurance subsector of the Financial Services sector, boosted by activity in the shares of Mutual Benefits Assurance Plc and Continental Reinsurance Plc followed on the week’s activity chart with a sector turnover of 178.94 million shares valued at N117.71 million traded in 1,202 deals.

However. 25 equities appreciated in price during the week, lower than the thirty-three of the preceding week. Guinness Nigeria Plc led on the gainers’ table with a gain of N8.00 or 4.0 per cent to close at N210.00 per share while UACN Plc followed with a gain of N2.00 or 6.9 per cent to close at N31.00 per share. Other price gainers’ include NCR Nigeria Plc 1.48, Nestle Nigeria Plc – 0.99, The Okomu Oil Palm Plc – 0.96, Forte Oil Plc – 0.92, UACN Property Development Co. Plc – 0.76, Roads Nigeria Plc – 0.66, Guaranty Trust Bank Plc – 0.46, Honeywell Flour Mills Plc – 0.37.

Also, 37 stocks depreciated in price, lower than the 39 of the preceding week. Dangote Cement Plc led on the price losers’ table, dropping by N4.00 to close at N103.00 per share while Lafarge WAPCO Cement Plc followed with a loss of N3.50 to close at N38.50 per share.

Other price losers are Oando Plc 3.30, Chemical & Allied Products Plc 2.55, Flour Mills Of Nigeria Plc 2.01, Stanbic IBTC Bank Plc 1.20, Dangote Sugar Refinery Plc 0.98,  Eterna Oil & Gas Plc 0.85, Dangote Flour Mills Plc – 0.78, Access Bank Plc 0.57

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