Equities market dip further by N208bn

The value of listed equities decline further by N208 billion after Fifty-seven (57) stocks lost their values last week to further mark increased profit-taking.

The market capitalisation of listed equities declined from preceding trading week level of N10.836 trillion it opened to N10.628 trillion the market closed on Friday.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) lost 681.27 points or 2.15 per cent from 31,729.26 points to 31,047.99 points at the close of trading activities last week.

Caverton Offshore Support Group plc added N0.27 or 7.89 per cent from N3.42 to N3.69; Ecobank Transnational Incorporated rose from N21 to N22, adding N1.00; while Forte Oil Plc rose from N180 to N188, adding N8.10.

On the losers table, Trans Nationwide Express plc led the pack of losers after its share price declined by N0.33, from N1.41 to N1.11; Computer Warehouse Group Plc followed after dipping from N3.98 to N3.26, down by N0.72.

Transnational Corporation of Nig Plc declined from N2.12 to N2.50, losing N0.38 while Oando Plc fell by N2.08 from N14.68 to N12.60.

In the four days trading activities, a turnover of 1.187 billion shares worth N20.259 billion in 14,349 deals were traded last week by investors on the floor of The Exchange

The Financial Services Industry (measured by volume) led the activity chart with 928.850 million shares valued at N11.840 billion traded in 7,903 deals; thus contributing 78.26per cent and 58.44per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with a turnover of 76.523 million shares worth N629.896 million in 979 deals.

The third place was occupied by Oil and Gas Industry with 67.815 million shares worth N966.600 million in 1,652 deals.

Trading in the Top Three Equities namely –Zenith International Bank Plc.; Access Bank Plc., and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 647.735 million shares worth N9.888 billion in 2,477 deals, contributing 54.58per cent and 48.81per cent to the total equity turnover volume and value respectively.