Stock market on declining profile sheds N279bn

Stories  by Amaka Ifeakandu
Lagos

Investment in the nation’s equity market last week, dipped by N279 billion. Specifically, the market capitalisation of listed equities down by 3.0 per cent to N9.009 trillion from N9.288 trillion recorded the previous week. The Nigerian Stock Exchange All Share Index depreciated by 810.72 basis points to 26170.88 points from 26981.60 recorded the previous week.
Similarly, all other Indices closed lower during the week while the NSE ASeM Index closed flat.                  NSE Premium Index also fell 63.70 to 1,614.71, The NSE Main Board Index down by 30.78 to 1,188.37; NSE 30 index shed 32.81 to 1,168.70, NSE Banking index declined by 5.51 to 255.32, NSE Insurance Index dropped by 3.24 to. 125.97, NSE Consumer Goods Index decreased by 13.45 to 297.66, NSE Lotus II sheds 73.19 to 1825.70, NSE Industrial Goods went down by 136.73 to 1,643.32 and NSE Pension Index depreciated by 18.08 basis points to 792.61 points.

Investors for the week traded a turnover of 2.847 billion shares worth N7.420 billion in 16,065 deals in contrast to a total of 873.838 million shares valued at N8.024 billion that exchanged hands last week in 15,944 deals.
The Financial Services Industry led the activity chart in volume terms, with account of 2.632 billion shares valued at N4.935 billion traded in 10,882 deals; thus contributing 92.48 per cent and 66.51 per cent to the total equity turnover volume and value respectively. The ICT Industry followed with 105.401 million shares worth N52.702 million in 11 deals. The third place was occupied by the Conglomerates Industry with a turnover of 36.495 million shares worth N44.162 million in 446 deals.
Trading in the top three equities namely – Standard Alliance Insurance Plc, Chams Plc and Guaranty Trust Bank Plc accounted for 2.310 billion shares worth N3.005 billion in 1,825 deals, contributing 81.16 per cent and 40.49 per cent to the total equity turnover volume and value respectively. A breakdown of the trading activities showed that 18 equities appreciated in price during the week, against 24 recorded
the previous week. The result showed that 36 firms depreciated in price, lower than 37 stocks.
In the preceding week, while 127 equities remained unchanged against 120 equities recorded in the preceding week.

Airline Services and Logistics Plc led gainers table for the week, gaining 19.69 per cent or N0.50 kobo to close at N3.04 kobo, Wema Bank Plc followed with a gain of 10.53 per cent or N0.06 kobo to close at N0.63 kobo while Live stock Feeds Plc increased by 9.59 per cent or N0.07 kobo to close at N0.80 kobo. Other companies appreciated in price were Eterna Plc 9.56 per cent, Guinness Nigeria Plc 7.14 per cent, Red Star Exprss Plc 7.14 per cent, Pharma Deko Plc 4.94 per cent, Cap Plc 4.89 per cent, Ikeja Hotel Plc 4.71 per cent and International Breweries 4.68 per cent.

Cement Company of Northern Nigeria recorded the highest loss for the week, dropping by 14.34 or N0.75 kobo to close at N4.43 kobo, National Aviation Handling Company Plc trailed with a loss of 14.18 per cent or N0.38 kobo to close at N2.30 kobo while Cadbury Nigeria Plc fell by 14.13 per cent or N1.83 kobo to close at N11.12 kobo. Other quoted firms that recorded price depreciation were Forte Oil 12.70 per cent, Lafarge Africa 12.54 per cent, Champion Breweries 10.23 per cent, The Okomu Oil Palm Company Plc 9.64 per cent, Caverton Offshore Support GRP Plc 9.09 per cent, Diamond Bank 9.01 per cent, PZ industries Plc 8.39 per cent.
Also traded during the week were a total of 5,080 units of Exchange Traded Products (ETPs) valued at
N62,550.75 executed in 17 deals, compared with a total of 56,688 units valued at N817,310.72 transacted last week in 31 deals.
A total of 73,694 units of Federal Government Bonds valued at N80.177 million were traded in 9 deals compared to a total of 13,020 units of Federal Government Bonds valued at N12.953 million transacted last week in 14 deals.