Equity market closes negative, shedding N137bn

Equity market: Investors traded N18.431bn shares last week

Transactions on​ the floor of Nigerian Stock Exchange (NSE) remained on volatility trend as the ​ equities value declined by ​ N137 billion.

The market capitalisation of listed equities dropped ​ by 1.25 per cent to N10.842 trillion from N10.979 trillion traded the previous week.

Alas, the NSE All Share Index ​ (ASI) decline by 364.19 basis points to 28847.81 from 29212.00 traded the previous week.

Similarly, all other indices finished lower with the exception of the ASeM Index which closed flat

the NSE Main Board index fell by 10.93 basis points to 1319.69, NSE 30 index sheds 18.75 to 1294.53, NSE Corporate Governance declined by 19.78 to 1139.34 points. NSE Premium Index also went down by 36.93 to 2064.03, NSE Banking index down by 10.54 to 370.27 points, NSE Pension fell by 24.66 to 1119.27, NSE Insurance index dropped by 2.10 basis points to 118.63, NSE AFR Bank Value index declined by 17.15 to 961.72, NSE AFR Div yield index down by 24.87 to 1320.94 , NSE Meri Growth Index depreciated by 31.78 basis points to 1501.55 points, ​ NSE Meri Value Index decreased by 39.25 to 1255.45 NSE Consumer Goods Index went down by 1.52 to 669.53 points, NSE Oil and Gas 14.80 to 264.90 while NSE Lotus II dropped by 17.31 to 2070.60 points and NSE Industrial Goods Index down by ​ 3.99 to 1,096.25 points

The NSE trading result showed that investors traded a​ turnover of​ 1.477​ billion shares worth N10.876 billion in 20,740 deals against a total of 1.470 billion shares valued at N15.498 billion that exchanged hands the previous week in 18,092 deals.

The Financial Services Industry led the activity chart in volume terms accounting for 919.604 million shares valued at N7.544 billion traded in 11,975 deals, ​ contributing 62.28 per cent and 69.36 per cent to the total equity turnover volume and value​ respectively.​ The​ICT​ Industry followed with 204.019 million shares worth N58.786 million in 570 deals. The third place was Oil and Gas Industry with a turnover of 154.554 million shares worth N251.781 million in 1,735 deals.

Trading in the top three equities- Access Bank Nigeria Plc, Courtville Business Solutions Plc and​ United Bank for Africa Plc​ accounting ​ for​ 503.716​ million shares worth N2.338 billion in 2,754 deals, representing ​ 34.11 per cent and 21.50 per cent to the total equity turnover volume and value respectively.​

A review of the transactions showed that​ 18) equities appreciated in price during the week, against 32 in the preceding ​ week. The result indicated that 49 companies equities recorded price depreciation compared with 44 equities of the previous week, while 101 equities remained unchanged, higher than 92 firms recorded in the preceding week.

Beta Glass PLC led gainers table, growing by 23.13 per cent or N12.95 kobo to close at N68.95 kobo, Courteviller Business Solution PLC followed with a gain of 13.64 per cent or N0.03 kobo to close at N0.25 kobo, NEM Insurance PLC appreciated by 13.12 per cent or N0.29 kobo to close at N2.50 kobo. Other companies appreciated in price were Regency Assurance Plc 8.70 per cent, Sovereign Trust Insurance 8.70 per cent, Stanbic IBTC Holdings Plc 5.75 per cent , Wapic Insurance Plc 5.41 per cent, Royal Exchange Plc 4.35 per cent , Ecobank Transnational Incorporated (ETI) 3.00 per cent, Guinness Nigeria Plc 3.0 per cent.

Conversely, Goldlink Insurance Plc recorded the highest loss during the week, declining by 36.11 per cent or N0.13 kobo to N0.23 kobo, Japaul Oil and Maritime Services Plc trailed with a loss 33.33 or N0.13 kobo to N0.26 kobo, Neimeth International Pharmaceuticals Plc down by 25.37 per cent or N0.17 kobo to N0.50 kobo. Other firms that recorded price depreciation were Caverton Offshore Support GRP Plc 18.00 per cent, Ikeja Hotel Plc 17.14 per cent, ​ Julius Berger Nigeria Plc 14.66 per cent, A.G. Leventis Nigeria Plc 14.29 per cent , Linkage Assurance Plc 13.73 per cent, ​ Africa Prudential Plc ​ 11.50 per cent, Chams Plc 11.11 per cent

A total of 97,154 units of Exchange Traded Products (ETPs) valued at N1.318 million executed in 2 deals compared with a total of 1.190 million units valued at N10.967 million transacted last week in 12 deals.​

A total of 265 units of Federal Government Bonds valued at N281,654.91 were traded this week in 5 deals compared with a total of 14,589 units valued at N15.164 million transacted last week in 12 deals.​

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