Equity market declines as investors dump shares ahead election


 
Transactions on the floor of Nigerian Stock Exchange has sustained low activities as investors continue off loading their shares ahead of the Nigeria general election.

The value of equities declined by N301 billion or 2.63 per cent to N11.124 trillion from N11.425 trillion reported the previous day.

Specifically, the NSE All Share Index declined by 808.20 basis points to 29830.70 from 30638.90 points traded the previous week.

The result showed that all other indices finished lower with the exception of the NSE Industrial Goods Index that rose by 1.00 per cent while the NSE ASeM index closed flat. 

NSE Corporate Governance Index dropped by 24.41 to 1181.54 points, NSE Premium Index sheds 85.92 basis points to 2043.32.

The NSE Main Board Index down by 21.67 to1387.35, NSE 30 index went down 34.88 to 1343.94, NSE Banking Index decreased by 3.54 to 383.50 points, NSE Insurance Index depreciated by 8.73 to 115.97, NSE Consumer Goods index fell by 26.04 to 704.73 points, NSE Oil and gas index decreased by 18.84 to 281.01 points, NSE Lotus Ii 46.94 to 2152.61 points, NSE Pension Index dipped by 3.45 to 1170.69 points.

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Investors during the week traded 1.265 billion shares worth N14.074 billion in 19278 deals against total of 1.647 billion shares valued at N8.413 billion that exchanged hands the previous  week in 14,773 deals.

The Financial Services Industry  led the activity chart accounting for 1.072 billion shares valued at N8.795 billion in 12,287 deals, contributing 84.73 per cent and 62.49 per cent to the total equity turnover volume and value respectively. 

The Conglomerates Industry followed, trading 83.595 million shares worth N155.485 million in 750 deals. The third place was Consumer Goods Industry with a turnover of 50.537 million shares worth N3.432 billion in 2,576 deals.

Trading in the top three equities namely, Diamond Bank Plc, FBN Holdings Plc and Custodian Investment Plc accounted for 465.000 million shares worth N 2.044 billion in 2,448 deals, contributing 36.75 per cent and 14.53 per cent to the total equity turnover volume and value respectively.

A review of the trading result showed that 22) equities appreciated in price against 22 traded in the previous week. The result also showed that 44 equities depreciated in price,  against 45 traded two weeks ago, while 103 equities remained unchanged higher than 97 equities recorded in the preceding week.

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An analysis of the investment revealed that Julius Berger Nigeria Plc led gainers table for the week, dropping by 22.15 per cent or N5.15 kobo to close at N28.40 kobo, Diamond Bank Plc followed with a gain of 12.22 per cent or N0.22 kobo to close at N2.02 kobo, Transnational Corporation of Nigeria Plc appreciated by 11.21 or N0.13 kobo to close at N1.29 kobo.

Other companies appreciated in price were Wapic Insurance  10.0 per cent , Cornerstone insurance Plc 10.0 per cent , John Holt Plc 9.09 per cent, Lafargw Africa Plc  8.41 per cent, Cement Company of Northern Nigeria 8.40 per cent, A.G. Leventis Nigeria Plc 7.41 per cent, FCMB Group Plc 4.94 per cent.

On the contrary, NEM Insurance Plc recorded the highest loss during the week, shedding 33.46 per cent or N0.87 kobo to close at N1.73 kobo, Resort Savings and Loans Plc trailed with a loss of 26.00 or N0.13 kobo to close at N0.37 kobo, Unity Bank Plc fell by 17.00 per cent or N0.17 kobo to close at N0.83 kobo. 

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Other firms depreciated in price were Custodian Investment Plc 13.11 per cent, Flour Mulls Nigeria Plc 11.67 per cent, Neimeth International Pharmaceuticals plc 10.26 per cent, Seplat Petroleum Development Company Plc 10.00, MRS Oil Nigeria Plc 9.92 per cent, Champion Breweries Plc 9.88 per cent and UPDC Real Estate Investment Trust 9.85 per cent.

Also traded during the week were a total of 15,288 units of Exchange Traded Products (ETPs) valued at N236,445.40 executed in  four deals compared with a total of 395 units valued at N816,344.70 that was transacted last week in 13 deals.

A total of 17,996 units of Federal Government Bonds valued at N18.426 million were traded this week in 10 deals compared with a total of 7,209 units valued at N6.958 million transacted last week in 8 deals.



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