By Helen Oji

FOLLOWING share price losses incurred by major blue chip stocks on the floor of the Nigerian Stock Exchange (NSE), equity transactions recorded a downturn, as market capitalisation dropped marginally by N5 billion.

Investors also traded 254.6 million shares worth N2.11 billion in 7,165 deals, down from 373.4 million units valued at N2.8 billion exchanged in 7,244 deals on Tuesday.

Consequently, the market capitalisation of listed equities dipped by 0.08 per cent from N5,946 trillion on Tuesday to N5, 941 trillion yesterday.

In the same vein, the All-Share Index depreciated by 21.19 points to close at 24,247.05 compared to the 24,268.24 achieved by the NSE on August 31.

The banking sub-sector took the lead in sector performance analysis with 129.30 million shares, amounting N1.31 billion traded in 3,392 deals.

The sub-sector was boosted by the shares of Guaranty Trust Bank (GTB) and Zenith Bank. 

GTB investors transacted 38.6 million shares valued at N597.89 million in 614 deals, while Zenith Bank sold 21.46 million shares worth N270.38 million in 479 deals.

Health care sub-sector was supported by the shares of Union Diagnostic and Clinical, as investors bought 58.7 million shares worth N29.3 million in 15 deals.

The insurance sub-sector ranked third with 23.3 million shares valued at N27.7 million, in 311 deals.

The shares of AIICO accounted for the bulk of trading in the sub-sector with 5.18 million shares amounting to N5.46 million in 120 deals.

Nigerian Breweries (NB) led in the price gainers’ pack, appreciating by N1.40 to close at N71.00 per share. AP shares went up by N1.35 to close at N28.37, while Dangote Flour grew by 40 kobo to close at N17.50 per share.

On the other hand, Guinness led in the price losers’ chart, dipping by N2.01 to close at N162.99 per share.

 Flourmill’s shares depreciated by N1.65 to close at N70.25, while PZ lost N1.33 to close at N32.00 per share.

Source: The Guardian