Equity market closes on negative trend, shedding 489.09 bp

Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed week on Friday in a negative trend, shedding 489.09 basis points.
The NSE All Share Index declined by 1.13 per cent to 42638.83 points from 43127.92 reported in the previous week.
Also market capitalisation of listed equities depreciated by N175 billion o to N15.301 trillion from N15.476 trillion reported in the preceding week.
The trading result for the week showed that all other indices took downward trend during the week with the exception of the NSE Pension
Index that appreciated by 0.08 per cent while the NSE ASeM Index closed flat
NSE Premium Index fell by 35.90 to 2988.84 points, the NSE Main Board index appreciated by 20.71 to 1,859.68. The NSE 30 index decreased by 16.19 to 1936.68 , NSE Banking index went down by 3.27 to 568.29 points, NSE insurance index dipped by 2.66 to 154.24 points. NSE Consumer Goods Index dropped by 8.80 per cent to 980.00, NSR Oil and Gas index sheds 3.76 to 355.09 points, NSE Lotus II declined by 3.28 to 2693.10 and NSE Industrial Goods 24.91 basis points to 2298.94 points.
Investors for the week traded a turnover of 2.940 billion shares worth N27.924 billion in 28,570 deals in contrast to a total of 4.426 billion shares valued at N24.236 billion that exchanged hands last week in 29,573 deals.
The Financial Services Industry led the activity chart in volume terms with 2.174 billion shares valued at N17.033 billion traded in 19,013 deals, contributing 73.96 per cent and 61.00 per cent to the total equity turnover volume and value respectively. The Services Industry followed with 232.482 million shares worth N216.990 million in 734 deals. The third place was occupied by Conglomerates Industry with a account of 170.422 million shares worth N499.400 million in 1,578 deals. Trading in the top three equities namely – Linkage Assurance Plc, Skye Bank Plc and FCMB Group Plc accounted for 809.798 million shares worth N1.130 billion in 2,551 deals, contributing 27.55 per cent and 4.04 per cent to the total equity turnover volume and value respectively.
Financial analysts were of the view that the volatility in the market will continue as traders returned back to the market on low price attraction ahead of dividend declaration. They also said that low interest rates in the money market and the sell off in the bond market will boost inflow into the stock market because fund managers will play the market during earning season to make more returns in high dividend paying stocks.
A review of investment for the week showed that 30 equities appreciated in price against 23 recorded in the previous week. The result that 48 equities depreciated in price, compared with 64 equities of the previous week, while 94 firms remained unchanged higher than 85 equities recorded in the preceding week.
Analysis of the investment for the week indicated that Berger Paints Plc led gainers table during the week, growing by 15.00 per cent or N1.35 kobo to close at N10.35 kobo, Betaglass Plc followed with a gain of 10.16 per cent or N6.65 kobo to close at N72.10 kobo while Access Bank appreciated by 5. 44 per cent or N0.65 kobo to close at N12.60 kobo. Other companies appreciated in price were A. G Leventis Nigeria Plc 4.95 per cent, Glaxosmith Kline Consumer Nigeria Plc 4.95 per cent. Transcorp Hotel Plc 4.86 per cent, Wapic Insurance Plc 4.69 per cent, Africa Prudential Plc 4.17 per cent, PZ Cusson Nigeria Plc 4.17 per cent, Zenith International Bank 3.56 per cent.
On the contrary, Consolidated Hallmark Insurance recordedbthe highest loss for the week, shedding 22.86 per cent or N0.08 kobo to close at N0 27 kobo, First Aluminium Nigeria Plc trailed with a loss of 19.57 or N0 09 kobo to close at N0.37 kobo, Courteville Business Solution Plc fell by 17.39 per cent or N0.08 kobo to at N0 38 kobo. Other firms depreciated in price were Japaul Oil and Maritime Services Plc 14.29 per cent, Prestige Assurance Co. Plc 14.29 per cent. Unity Capital Assurance Plc 13.64 per cent, Multiverse Mining and Exploration Plc 12.50 per cent, Equity Assurance Plc 12.50 per cent, Caverton Support GRP Plc 11.67 per cent and Sterling Bank 11.44 per cent.
Also traded during the week were a total of 25,586 units of Exchange Traded Products (ETPs) valued at N3.004 million executed in 11 deals, compared with a total of 1.200 million units valued at N6.951 million that was transacted last week in 10 deals.

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