Equity market sheds N214bn in 4 days

Stories by Amaka Ifeakandu
Lagos

Trading activities on the floor of Nigerian Stock Exchange (NSE) last week closed in a negative trend, shedding N214 billion. Market capitalisation of listed equities which closed year at N9.246 trillion depreciated by 2.32 per cent to N9.032 trillion at the end of transactions on Friday. The NSE All Share Index (ASI) also closed lower for the week, shedding 623.23 basis points to 26251.39 points from 26874.62 traded the previous week.
NSE Premium dropped by 54.05 to 1641.46, The NSE Main Board index shed 21.40 to 1182.39, NSE ASeM Index went down by 19.92 basis points to 1,169.77, NSE 30 index declined by 24.52 to 1,170.68 points, NSE Banking index fell by 4.31 basis points to 270.01. NSE Insurance index down by 0.21 to 126.08 , NSE Consumer Goods Index dipped by 16.24 to 696.41, NSE Oil and Gas Index 5.13 basis points to 307.55, NSE Lotus II 41.22 bsis points to 1800.37, NSE Industrial Goods index 48.14 basis points to 1547.19 points and NSE Pension Index depreciated by 1.93 per cent to 808.11 points.

The trading  which lasted  only four working days of the week  as federal government declared Monday Public holidays to celebrate new year,  showed that investors bought  4.319 billion shares worth N7.376 billion in 9,330 deals  in contrast to a total of 405.939 million shares valued at N3.724 billion that exchanged hands last week in 6,363 deals.
The Financial Services Industry  led the activity chart with 4.177 billion shares valued at N5.306 billion traded in 5,047 deals,  contributing 96.71 per cent and 71.94 per cent to the total equity turnover volume and value respectively. The Oil and Gas Industry followed with 65.827 million shares worth N594.522 million in 1,385 deals. The third place was occupied by Conglomerates Industry with a turnover of 26.487 million shares worth N48.163 million in 299 deals.
Trading in the top three equities namely – Unity Kapital Assurance Plc, Omoluabi Savings and Loans

Plc and FCMB Group Plc  accounted for 3.863 billion shares worth N3.013 billion in 286 deals, contributing 89.45 per cent and 40.85 per cent  to the total equity turnover volume and value respectively. Analysis of trading for the week showed that 18 equities appreciated in price during the week, against 37 recorded the previous week. The result indicated that 31 firms  depreciated in price, higher than 21stocks of the previous week, while 126 equities remained unchanged against 117 equities recorded in the preceding week.
UAC Property Development Co. Plc led gainers table for the week, increasing by 34.50 per cent or N0.38 kobo to close at N3.00, United Capital Plc followed with a gain of 10.62 per cent or N0.29 kobo to close at N3.02 kobo, while Access Bank grew by 6.68 per cent or N0.41 kobo to close at N6.28 kobo. Other companies appreciated in price were Eterna Plc 6.45 per cent, FCMB Group Plc 6.36 per cent, Unity Bank 5.45 per cent, FBNHoldings Plc 4.48 per cent, United Bank for Africa Plc 4.00 per centt, Fidson Healthcare Plc 3.91 per cent and Cap Plc 3.13 per cent.

National Aviation Handling Company Plc recorded the highest loss for the week, decreasing by 13.92 per cent or N6.44 kobo to close at N2.72 kobo, Cement Company for Northern Nigeria trailed with a loss of 13.40 per cent or N0.67 kobo to close at N4.33 kobo. N.E.M Insurance Co Nigeria Plc fell by 9.52 per cent or N0.10 kobo to close at N0.95 kobo. Other firms depreciated in price were Sterling Bank 6.45 per cent, Cadbury Nigeria Plc 6.36 per cent, Union Bank of Nigeria Plc 5.45 per cent, Mobil Oil Nigeria Plc 4.48 per cent, Dangote Flour mills Plc 4.00 per cent, Ashaka Cement Plc 3.91 per cent and Custodian and Allied Plc 3.13 per cent
Also traded during the week were a total of 55 units of Exchange Traded Products (ETPs) valued at N505.65 executed in 11 deals, compared with a total of 9,965 units valued at N56,446.35 transacted last week in 16 deals.
A total of 5,100 units of Federal Government Bonds valued at N5.120 million were traded this week in 2 deals, as against no bond transaction last week.