By:g9ija,lagos
The newly appointed Interim Administrator of the Nigerian Stock Exchange (NSE), Mr. Emmanuel Ikazoboh has tasked stockbrokers and other market operators on the need to contribute their quota towards the development of the capital market.
Ikazoboh, who spoke on the floor of the NSE, at the close of trading, Monday, said that caonfidence can only return to the market is operators create the opportunity
He advised stockbrokers to ensure, in their dealings and communication, that positive information be sent out to investors and the larger society, as this will help in bringing about confidence.
He further stated that return of confidence will ensure that the market continues to enjoy the patronage of both local and foreign investors.
However, transaction on NSE resumed the week on a bearish note as equities’ value represented by the market capitalisation dipped by N32.45 billion.
In particular, the capitalisation shed by 0.52 per cent to close at N6.262 trillion from N6.262 trillion at which it opened.
Another key performance indices, the All share index recorded a decline of 132.7 points, shed 0.52 per cent to close at 25,606.09 points from 25,738.79 points.
The decline on the price indices was occasioned by major blue chip companies, led by Julius Berger Nigeria Plc with a loss of N2.73 to close at N52.28 per share, Nigerian Breweries Plc followed with a loss of N1.05 to close at N74.00 per share and Lafarge Cement WAPCO Plc dipped by N0.64 to close at N38.42 per share.
On the other hand Norther Nigeria Flour Mills Plc recorded the most share price gain rising with a gain of N1.67 to close at N35.25 per share, Guinness Nigeria Plc followed with a gain of N1.56 to close at N166.50 per share and UAC Nigeria Plc garnered N1.40 to close at N43.40 per share.
Equity trading however, appreciated by 29.21 per cent as a turnover of 259.88 million shares valued at N2.66 billion was recorded in 8,895 deals, compared to Friday’s turnover of 201.12 million shares valued at N2.06 billion in 6,394 deals.
The Banking sub-sector dominated the other sub-sector on the sectorial analysis accounting for 42.50 per cent of the market turnover with110.44 million shares valued at N1.03 billion in 3,655 deals.
United Bank for Africa Plc was the most active in the sub-sector trading 24.42 million shares valued at N263.49 million in 498 deals, Guaranty Trust Bank Plc followed with the exchange of 15.68 million shares valued at N264.92 million in 589 deals and First Bank of Nigeria Plc recorded 13.84 million shares valued at N185.51 million in 836 deals.
The Petroleum Marketing sub-sector trailed on the sectorial analysis accounting for 18.75 per cent of the market turnover with 48.72 million shares valued at N411.23 million in 352 deals.
Eterna Oil and Gas Plc recorded the most patronage in the sub-sector trading 47.41 million shares valued at N331.92 million in 20 deals, Oando Plc followed with the exchange of 645.95 million shares valued at N44.13 million in 158 deals and Beco Petroleum Product Plc recorded 285.32 million shares valued at N245.20 million in 13 deals.