Equity market closes week on negative trend, sheds N1bn


Trading activities on the floor of Nigerian Stock Exchange (NSE) last week declined marginally by N1 billion. 

Specifically, market capitalisation of listed equities decreased by 0.01 per cent to N11.612 trillion from N11.613 trillion traded the previous week.

NSE All Share Index depreciated by 3.37 basis points to 31139.35 points from 31142.72 traded two weeks ago.

Also, all other indices finished lower with the exception of the NSE CG, NSE Premium, NSE ASeM, NSE Banking, NSE-AFR Bank Value, NSE AFR Div Yield, NSE Industrial Goods and NSE Pension indices which appreciated by 0.66 per cent, 0.27 per cent, 0.55 per cent, 3.82 per cent, 4.76 per cent, 2.97 per cent, 2.42 per cent and 0.71 per cent respectively.

The NSE main board index declined by 3.33 to 1430.08, NSE 30 index fell by 2.82 to 1398.78, NSE Insurance index went down by 1.41 to 128.50, NSE Consumer Good Index dropped by 16.59 to 703.73, NSE Oil and Gas down by 11.55 to 280.54 while Lotus II decreases by 16.35 to 2, 244.77 points.

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Investors during the week traded  1.198 billion shares worth N12.273 billion in 18,293 deals a total of 1.113 billion shares valued at N13.465 billion that exchanged hands last week in 15,036 deals.

The Financial Services Industry  led the activity chart with 1.014 billion shares valued at N9.693 billion traded in 12,165 deals; contributing 84.63 per cent and 78.98 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 58.049 million shares worth N1.398 billion in 2,689 deals. The third place was Conglomorates Industry with a turnover of 46.272 million shares worth N103.316 million in 626 deals.

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Trading in the top three equities namely, Access Bank Plc, Zenith Bank Plc and United Bank for Africa Plc accounted for 651.600 million shares worth N6.294 billion in 6,505 deals, representing 54.39 per cent and 51.28 per cent to the total equity turnover volume and value respectively.

The transaction for the week showed that 32 equities appreciated in price against 18 in the previous week. The result showed that 38 firms recorded price depreciation compared with 45 recorded the previous week, while 98 firms equities remained unchanged lower than 105 equities recorded in the preceding week.

Ncnichols Plc led gainers table during the week, gaining 23.81 per cent or N0.13 kobo to close at N0.70 kobo, Access Bank Plc followed with a gain of 18.10 per cent or 4.05 kobo to close at N6.85 kobo while Dangote Flour Nigeria Plc gained 13.73 per cent or N1.40 kobo to close at N11.60 kobo. Other firms appreciated in price were Fidelity Bank Plc 10.75 per cent, Prestige Assurance Plc 10.00 per cent, Cement Company of Northern Nigeria 10.00 per cent, Caverton Offshore Support GRP Plc 9.68, Meyer Plc 9.26 per cent, Eternal Plc 9.09 per cent, International Breweries Plc 8.11 per cent.



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