Nigeria Content Online

The market capitalisation of equities at the Nigerian Stock
Exchange yesterday further depreciated by 0.30 per cent after plunging the
previous day.

The market capitalisation of the 194 First-Tier equities closed
on Thursday at N7.866 trillion after opening the day at N7.890 trillion,
reflecting N24 billion losses. About N77 billion has been lost since
transaction began this week.

Stockbrokers at GTI Capital, a stockbroking firm, said,
“Increase in the numbers of blue chip companies (most capitalised stocks) that
featured on the losers’ chart contributed to the downturn.”

Also, analysts at Proshare Nigeria Limited, an investment
advisory firm, said the continuous downward trend could be attributed to “the
intense sell activities” by investors, adding that the sell pressures were
“very dominant in some blue chips stocks” in sectors like banking, building
materials, breweries, and foreign listings.

The number of gainers at the close of trading session on
Thursday closed lower at 19 stocks compared to the 23 recorded on Wednesday,
while losers closed higher at 35 stocks, as against the 31 recorded the
previous trading day.

Costain West Africa and Aiico Insurance topped the price
gainers’ table with an increase of five per cent and 4.88 per cent, to close at
N5.67 and 86 kobo per share, respectively. Transnational Corporation, the most
trading stock for the day, and Continental Reinsuarnce followed on the gainers’
table with an increase of 4.72 and 4.55 per cent, to close at N1.11 and 92 kobo
per share.

On the flip side, United Bank for Africa, Starcomms, Goldlink
Insurance, and Wema Bank led the price losers’ chart with a loss of five per
cent each, to close at N7.60, 76 kobo, 57 kobo, and N1.33 per share,
respectively.

Active sub-sector

At the close of trading yesterday, the Conglomerates sub-sector
led the most active sub-sectors’ chart with 2.509 billion volumes of shares,
valued at over N2.815 billion. Volume in the sub-sector was driven by
Transnational Corporation, PZ Cussons, and UAC Nigeria.

Trading activities in the banking sub-sector followed with
137.096 million volumes of shares, valued at over N1.196 billion. Volume in the
sub-sector was driven by Access Bank, Zenith Bank, United Bank, and Guaranty
Trust Bank.

The insurance sub-sector was third in the chart. Investors in
the sector exchanged 37.505 million volumes of shares, valued at over N21.798
million. Deals in shares of Universal Insurance Company, Aiico Insurance,
Goldlink Insurance, and Guaranty Trust Assurance boosted volume in this
sub-sector.