Value of investment on the NSE down by N706bn
Friday Ekeoba, Lagos
From left,Vice President, Association of Professional
Women Engineers of Nigeria(APWEN), Mrs. Ini Usoro;
President of the association, Mrs. Nwakaego Ojukwu
presenting the guest speaker plaque to Mrs.Florence
Seriki, Group Managing Director, Omatek Ventures Plc,
during the 2009 Annual June Lecture organised by the
association in Lagos, recently. Value of
investments in
equities on the Nigerian Stock Exchange (NSE) plunged last week by N706.21 billion.
The loss in investment value was heavily brought about by losses in the share prices of majority of the blue chip listed equities, which forced down the market capitalisation and All-share index by 10.71 per cent each.
A review of activities in the week showed that the market capitalisation which opened the week at N6.593 trillion dipped by N706.21 billion to close the week at N5.886 trillion, while the index dropped by 3,096.64 basis points to close at 25,813.55 points from 28,910.19 points.
UAC Nigeria Plc. led 101 other share price losers, in the week under review, dropping by N6.00 to close at N35.00 per share, Flour Mills Nigeria Plc followed with a loss of N5.14 to close at N22.86 per share and Julius Berger Nigeria Plc. shed N4.66 to close at N29.34 per share.
Other top five losers include: Nigerian Breweries Plc. N4.50 and Ecobank Transnational Incorporated N4.07.
Conversely, Total Nigeria Plc, on the other hand, led 11 other share price gainers, rising by N14.05 to close at N169.05 per share, Nestle Nigeria Plc followed with a gain of N8.89 to close at N189.00 per share and Mobil Oil Nigeria Plc dipped by N5.12 to close at N117.99 per share.
Other share price losers in the top five categories include: Benue Cement Company Plc N2.84 and May & Baker Nigeria Plc N0.90 among others.
Transaction in the week also witnessed a decline turnover of 2.64 billion shares valued at N20.64 billion and recorded in 36,728 deals, in contrast to the previous week’s turnover of 2.75 billion shares valued at N25.34 billion in 53,259 deals.
Trading was driven by activity in the Banking sub-sector, accounting for 47.35 per cent of the market turnover, with 1.25 billion shares valued at N13.83 billion in 21,647 deals.
GTBank Plc recorded the highest transaction in the sub-sector, trading 265.13 million shares valued at N3.42 billion in 2,367 deals, followed by United Bank for Africa Plc; with the exchange of 242.83 million shares valued at N3.22 billion in 2,300 deals and Access Bank Plc recorded 99.1 million shares valued at N876.37 million in 1,527 deals.
The insurance sub-sector followed on the sectorial analysis, accounting for 20.61 per cent of the market turnover, with 544.94 million shares valued at N565.7 million in 3,694 deals.
