Investors hope of reaping from their stakes in the capital market through price appreciation may remain elusive for the remaining part of the year as equity prices has continued to lose value unabated.

The continuous loss in equity prices for the second week in November has further depleted investors' funds in the market by N73.89 billion, as market capitalization which opened the week's trading Monday November 9,2009 at N5.08 trillion, closed yesterday at N5 trillion.

The market capitalization which lost N35.46 billion on Monday closing trading at N5.04 trillion, further dropped N36.35 billion on Tuesday to close at N5.004 trillion, this was followed with N2 billion depreciation yesterday closing at N5.002 trillion.

The market All-Share Index followed the same pattern, dropping 150.32 basis points on Monday closing at 21,366.97, dropped Tuesday by 154.01 basis point, closing at 21,212.96 , while 8.45 basis points was lost yesterday closing at 21,204.51.

Meanwhile 44 equities out of the 66 companies that participated in trading depreciated in prices as against the 22 that appreciated. Nigerian Breweries (NB) led the losers table with N1.88 closing at N55.12 per share, followed by 7 UP Bottling Company with N1.45 loss in price closing at N27.55 per share while Ecobank Nigeria gave out 83 kobo closing at N15.95 per share. Nestle Nigeria dropped by 59 kobo closing at N235.34 per share while UACN closed the top five losers table with 50 kobo closing at N40.50 per share.

Nigerian Flour Mills led the 22 gainers table with N1.50 closing at N33.00 per share, followed by Guaranty Trust Bank with 76 kobo closing at N16.15 per share while Julius Berger Nigeria added 50 kobo closing at N28.50 per share.

Analysis of the market summary showed that turnover of 311.39 million shares worth N2.93 billion was transacted by investors in 5,653 deals. This showed a drop in turnover by 12.22 million shares as against turnover that opened trading which stood at 323.61 million shares worth N3.42 billion in 6,839 deals.

The banking sector remained the most active measured by turnover with 218.72 million shares valued atn2.11 billion in 3,298 deals. Turnover of the banking sector was lifted by activity in the shares of United Bank for Africa (UBA), with 59.41 million shares valued at N691.94 million in 258 deals while First bank of Nigeria pulled 58.90 million shares valued at N810.64 million in 834 deals.

The five most active stocks were United Bank for Africa (UBA) with 59.41 million shares, Fist Bank of Nigeria with 58.90 million shares, AIICO Insurance with 17.81 million shares, Unilever Nigeria with 9.79 million shares and Fidelity Bank with 9.70 million shares.