Equity Market closes lower, shedding N74 bn

Trading activities on the floor of Nigerian Stock Exchange (NSE) last week remained volatile, shedding N74 billion.The market capitalisation of listed equities depreciated by 0.61 per cent to N12.126 trillion from N12.20 trillion reported the previous week.

The NSE All Share Index also depreciated by 199.68 basis points to 32515.52 points from 32715.20 points traded the preceding week.
Similarly, all other indices finished lower with the exception of the NSE ASem, NSE Banking, NSE Insurance NSE-AFR Bank Value and NSE Oil/Gas indices which rose by 0.96 per cent 0.68 per cent, 0.02 per cent 0.95 per cent and 0.13 per cent respectively.

NSE Corporate Governance index depreciated by 0.57 basis points to 1316.37 points, NSE Premium index down by 2.41 to 2252.69 points, The NSE main board index sheds 15.16 to 1,498.95 points, NSE 30 index declined by 11.24 to 1,473.90 points, NSE AFR Div Yield index down by 8.41 to 1477.56 points, NSE Consumer Goods index went down by 11.69 to 752.88, NSE Lotus Ii dropped by 19.23 basis points to 2, 321.30 points, NSE industrial Goods index down by 17.87 to 1264.66, NSE Pension index dipped by 19.02 to 1245.15 points.

The transactions during the week halted the two day bull transition due to in profit taking embarked by investors. the trading result showed that investors traded a turnover of 1.481 billion shares worth N17.647 billion in 20,449 deals in contrast to a total of 2.834 billion shares valued at N28.138 billion that exchanged hands last week in 28,739 deals.

The Financial Services Industry led the activity chart with 1.038 billion shares valued at N10.170 billion traded in 12,232 deals, contributing 70.07 per cent and 57.63 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 193.204 million shares worth N306.521 million in 1,330 deals. The third place was Consumer Goods Industry with a turnover of 72.042 million shares worth N4.381 billion in 2,990 deals.

Trading in the top three Equities- Transnational Corporation of Nigeria Plc, Sterling Bank Plc and Access Bank Plc accounted for 421.500 million shares worth N1.274 billion in 2,979 deals, contributing 28.46 per cent and 7.22 per cent to the total equity turnover volume and value respectively.

A review of the trading activities during the week showed that 34 equities appreciated in price against 60 recorded in the previous week. The result showed that 38 companies depreciated in price, compared with 21 of the previous week, while 96 equities remained unchanged higher than 87 equities recorded in the preceding week.

Japaul Oil and Maritime Services Plc led gainers table during the week appreciating by 25.00 per cent or N0.05 kobo to close st N0.25 kobo, Associated Bus Company followed with a gain of 23.81 or N0.10 kobo to close at N0.52 kobo, Ikeja Hotel Plc appreciated by 17.68 per cent or N0.32 kobo to close at N2.13 kobo. Other companies appreciated in price were Presco Plc 13.64 per cent , Mcnichols Plc 13.33 per cent , Dangote Flour Mills Plc 9.84 per cent, Betaglass Plc 9.27 per cent, the initiates Plc 8.96 per cent. UACN Property Development Company Plc 8.33 per cent, Oando Plc 8.33 per cent.

Livestock Feeds Plc recorded the highest loss during the week, shedding 19.44 per cent or N0.14 kobo to close at N0.58 kobo, Wema Ban trailed with a loss of 18.45 per cent or N0.19 kobo to N0.84 kobo, Vitafoam Nigeria Plc fell by 16.32 per cent or N0.78 kobo to close at N4.00. Other firms recorded price depreciation were Transnational Corporation of Nigeria Plc 15.20 per cent, Unity Bank Plc 13.16 per cent , Neimeth International Pharmaceuticals Plc 12.86 per cent , Linkage Assurance Plc 10.00 per cent , C & I Leasing 9.82 per cent. Cadbury Nigeria Plc 9.57 per cent and International Breweries Plc 9.48 per cent.

Also traded during the week were a total of 23,701 units of Exchange Traded Products (ETPs) valued at N3.020 million executed in 4 deals compared with a total of 1.271 million units valued at N9.782 million that was transacted last week in 7 deals.

A total of 5,845 units of Federal Government Bonds valued at N6.158 million were traded this week in 18 deals compared with a total of 1,460 units valued at N1.472 million transacted last week in 9 deals.

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