Investment in the nation’s equity market last week took negative direction as market capitalisation shed N88 billion. Specifically, the value of equities declined by 1.04 per cent to close at N8.403 trillion from N8.491 trillion recorded the previous week. Also the Nigerian Stock Exchange All Share Index fell by 257.18 basis points to 24432.51 from 24689.69 recorded the previous week.
Similarly, all other Indices closed lower during the week, with the exception of the NSE Main Board Index, NSE Banking Index, NSE Consumer Goods Index and NSE Oil and Gas and the that appreciated by 0.95 per cent , 0.04 per cent , 0.21 per cent and 3.30 per cent respectively, while the NSE ASeM index closed flat.
The NSE Premium index went down by 63.29 to 1,295.91, The NSE 30 index declined by 2.92 per cent to 1,090.62 and NSE Insurance dropped by 2.96 basis points to 127.18 points. Investors during the week traded a turnover of 1.202 billion shares worth N9.641 billion in 13,712 deals against a total of 1.407 billion shares valued at N17.277 billion that
exchanged hands last week in 14,914 deals.
The Financial Services Industry led the activity chart with 1.005 billion shares valued at N6.471 billion exchanged in 8,313 deals, contributing 83.66 per cent and 67.12 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 54.333 million shares worth N2.114 billion in 2,365 deals. The third position went to the Conglomerates Industry with a turnover of 45.977 million shares worth N184.205 million in 518 deals.
Trading in the top three equities namely – Zenith International Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc. accounted for 500.360 million shares worth N5.449 billion in 4,011 deals, representing 41.63 per cent and 56.52 per cent to the total equity turnover volume and value respectively.
Analysis of price movement showed that 22 equities appreciated in price during the week,against 26 of the previous week. The trading result showed that 37 companies recorded price depreciation, compared to 30 equities of the preceding week, while 131 equities remained unchanged, against 134 equities recorded in the previous week.
Seplat Petroleum Development Company Ltd led gainers table, growing by 19.98 per cent or N50,37 kobo to close at N302.48 kobo, May & Baker Nigeria Plc followed with a gain of 17.50 per cent or N0.14 kobo to close at N0.94 kobo while GlaxosmithKline Consumer Plc increased by 15.70 per cent or N3.28 kobo to close at N24.17 kobo.
Other companies that appreciated in price were National Aviation Handling Company Plc 13.88 per cent, NPF Micor Finance Bank 9.09 per cent. Ecobank Transnational Incorporated 5.76 per cent, Tiger Branded Consumer Goods Plc 5.0 per cent, UAC of Nigeria Plc 4.97 per cent, Cutix Plc 4.86 per cent and Airlines Services and Logistics Plc 4.57 per cent.
On the contrary, Unity Bank Plc topped losers chart, shedding 11.76 basis points or N0.08 kobo to close at N0.60 kobo, Port Land Paints and Products Nigeria Plc trailed by 10.16 per cent or N0.38 kobo to close at N3.36 kobo while Learn Africa Plc decline by 10.00 per cent or N0.05 kobo close at N0.81 kobo. Other Companies that recorded price depreciation were Northern Nigeria Flour Mills Plc 9.52 per cent, Caverton Offshore Support GRP Plc 9.19 per cent, Honey Well Flour Mills Plc 8.05 per cent, Continental Reinsurance Plc 8.00 per cent, Oando Plc 7.94 per cent, Diamond Bank Plc 7.74 per cent and Neimeth Plc 7.69 per cent.