NSE: Equity market sustains negative trend, sheds N909bn

Transactions on the floor of Nigerian Stock Exchange (NSE) last week sustained declining profi le, shedding N909 billion. Specifi cally, Market Capitalisation of listed equities depreciated by 6.38 per cent to N13.335 trillion from N14.244 trillion reported in the preceding week. The NSE weekly report showed that All Share Index declined by 2507.33 basis points to 36816.29 points from 39323.62 traded the previous week. Similarly, all other indices fi nished lower with the exception of the NSE ASeM Index that closed fl at. NSE Corporate Governance index dropped by 80.43 basis points to 1468.45 points, NSE Premium index down by 172.62 to 2688.62 points, The NSE Main Board Index sheds 115.69 basis points to 1,613.70, NSE 30 index went down by 112.70 to 1663.08, NSE Banking index depreciated by 22.01 to 468.65 points, NSE Insurance index decreased by 0.16 to 141.63, NSE Consumer Goods Index 80.29 to 859.45, NSE Oil and Gas fell by 8.06 basis points to 34.34, NSE Lotus II dipped 188.98 to 2448.25, NSE Consumer goods index 212.15 to 1846.87 points, NSE Pension Index dropped by 41.70 to 1,433.63 points The trading which lasted four working days as Federal Government declared May 29th a public holiday to mark democracy day showed that investors traded a turnover of total turnover of 2.699 billion shares worth N84.775 billion in 19,715 deals. This is against a total of 1.372 billion shares valued at N16.022 billion that exchanged hands last week in 21,099 deals. The Financial Services Industry led the activity chart with account of 2.451 billion shares valued at N78.417 billion in 11,403 deals, contributing 90.84 per cent and 92.50 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 76.845 million shares worth N126.358 million in 835 deals. The third place was occupied by Consumer Goods Industry with a turnover of 64.437 million shares worth N4.427 billion in 3,491 deals. Trading in the top three equities namely–Stanbic IBTC Holdings Plc, Access Bank Plc and Zenith Bank International Plc accounted for 1.626 billion shares worth N70.285 billion in 2,882 deals, representing 60.23 per cent and 82.91per cent to the total equity turnover volume and value respectively. A review of the trading activities for the week showed that 25 equities appreciated in price against 14 reported in the previous week. The result showed that 48 listed companies depreciated in price, lower than 61 equities of the previous week, while 96 fi rms remained unchanged compared with 94 equities recorded in the preceding week. An analysis of the investment indicated that Eterna Plc led gainers table during the week, gaining 20.11 per cent or N1.06 kobo to close at N6.33 kobo, Cement Company of Northern Nigeria followed with a gain of 16.46 per cent or N3.95 kobo to close at N27.95 kobo, Mutual Benefits Assurance Plc appreciated by 8.57 per cent or N0.03 kobo to close at N0.38 kobo. Other companies appreciated in price were Jaiz Bank Plc 6.35 per cent, Dangote Sugar Refi nery Nigeria Plc 5.76 per cent, Flour Mills Nigeria Plc 5.42 per cent, Unilever Nigeria Plc 5.00 per cent, First Aluminium Nigeria Plc 4.76 per cent, Fidelity Bank Plc 4.74 per cent and FBN Holdings 4.64 per cent. On the contrary, International Breweries Plc topped losers chart for the week, declining by 22.39 per cent or N11.60 kobo to close at N40.20 kobo, Lafarge Africa Plc trailed with a loss of 16.05 per cent or N6.50 kobo to close at N34.00. Forte oil Plc fell by 13.64 per cent or N5.55 kobo to close at N35.15 kobo. Other fi rms that recorded price depreciation were Nigerian Breweries Plc 10.75 per cent, Nestle Nigeria Plc 10.63 per cent, A. G Leventis Nigeria Plc 10.17 per cent, Caverton Off shore Support GRP Plc 9.79 per cent, Union Bank Nigeria Plc 9.02 per cent, Veritas Kapital Assurance Plc 8.82 per cent, Union Diagnostic and Clinical Services Plc 8.70 per cent. Also traded during the week were a total of 22,080 units of Exchange Traded Products (ETPs) valued at N393,726.30 executed in 10 deals, compared with a total of 70 units valued at N1,943.00 that