Stories by Amaka Ifeakandu
Lagos
Trading activities on the floor of the Nigerian Stock Exchange (NSE), last week trended downwards, shedding N435 billion.
Specifically market capitalisation of listed equities fell by 4.38 per cent to N9.491 trillion from N9.926 trillion recorded the previous week. Also, the NSE All Share Index depreciated by 1267.84 basis points to 27634.42 points from 28902.25 traded the preceding week. Similarly, all other Indices finished lower during the week. NSE Premium index fell by 76.31 to 1,669.57 points, the NSE Main Board Index shed 58.35 to 1269.01, NSE ASeM Index decreased by 2.99 to 1211.56 points, NSE 30 Index down by 62.99 to 1229.25, NSE Banking Index went down by 23.38 basis points to 278.98 points, NSE Insurance Index depreciated by 5.51 to 130.12 points, NSE Consumer goods dropped by 21.91 points to 705.45, NSE Oil and Gas Index dipped by 18.22 to 326.05 points, NSE Lotus II declined by 44.11 to 1815.49, NSE Industrial goods index decreased by 69.05 basis points to 1,990.21 and NSE Pension Index 51.94 basis points to 841.78 points.
Capital operators blamed the depreciation in the equity market on investors profit taking, adding that investors decided to offload their investment as they are waiting for Central Bank of Nigeria to release Modalties for the adopting of flexible exchange rate. However, trading for the week lasted for four- days as the Federal Government of Nigeria declared Monday 30th May, 2016 as Public Holiday to commemorate “Democracy day.” Meanwhile, investors traded a turnover of 1.263 billion shares worth N11.583 billion in 17,434 deals in contrast to a total of 2.338 billion shares valued at N14.789 billion that exchanged hands previous week in 24,942 deals.
The Financial Services Industry led the activity chart with 1.024 billion shares valued at N5.983 billion traded in 10,686 deals, contributing 81.07 per cent and 51.65 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 83.240 million shares worth N3.595 billion in 2,650 deals. The third place was occupied by the Conglomerates Industry with a turnover of 74.979 million shares worth N121.593 million in 715 deals.
Trading in the top three Equities namely – United Bank For Africa Plc, FBN Holdings Plc and Zenith International Bank Plc accounted for 418.707 million shares worth N2.858 billion in 4,405 deals, contributing 33.14 per cent and 24.68 per cent to the total equity turnover volume and value respectively. A review of investment for the week, 12 equities appreciated in price during the week, against 56 recorded the previous week. The result showed that 60 companies depreciated in price, higher than 20 equities of the previous week, while 108 equities remained unchanged higher than 104 stocks of the previous week.
Cadbury Nigeria Plc led gainers table in percentage terms, growing by 21.66 per cent or N3.65 kobo to close at n20.50 kobo . E-tranzact international Plc followed with a gain of 17.37 per cent or N0.87 kobo to close at N5.88 kobo, Trans Nation Wide Express Plc gained 13.82 per cnt or N0.21 kobo to close at N1.73 kobo. Other companies that appreciated in price were PZ industries Plc 4.99 per cent, Union Dicon Salt Plc 4.72 per cent, Port Land Paints and Products Nigeria Plc 4.59 per cent, Academy Press Plc 4.55 per cent, Cutix Plc 4.43 per cent, Learn Africa Plc 3.95 per cent, the Okomu Oil Palm Company Plc 3.55 per cent.
