Profit-taking down equities market by 1.18% in 4 days


By Olabode Jegede

The equities market depreciated by 1.18 per cent in four trading days last week as high-mid capitalised shares on the Nigerian Stock Exchange (NSE) recorded profit-taking.

The federal government had declared Tuesday public holiday to commemorate the Eid-el-Maulud celebrations.

Compared to a decrease of N52 billion in capitalisation two weeks ago, the market shed N139 billon last week.

Consequently, the NSE market capitalization closed lower at N11.565 trillion while the All-Share Index (ASI) went down by 1.18 per cent to be at 31,678.70 basis points from 32,058.28 basis points.

Similarly, all other indices finished lower with the exception of the NSE Main Board, NSE Insurance, NSE Consumer Goods, NSE Oil and Gas and NSE Pension Indices that finished higher by 0.43 per cent, 1.38 per cent, 1.08 per cent, 0.25 per cent and 0.56 per cent respectively, while NSE ASeM Index closed flat.

Meanwhile, investors traded 1.282 billion shares worth N23.142 billion in 11,467 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.285 billion shares valued at N11.539 billion that exchanged hands last week in 13,245 deals.

However, The Financial Services Industry (measured by volume) led the activity chart with 1.058 billion shares valued at N18.744 billion traded in 6,558 deals; thus contributing 82.48 per cent and 81.00 per cent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 96.818 million shares worth N644.178 million in 925 deals. The third place was Consumer Goods Industry with a turnover of 83.134 million shares worth N3.244 billion in 2,114 deals.

Trading in the Top Three Equities namely Zenith Bank Plc, Diamond Bank Plc, and Oando Plc, (measured by volume) accounted for 877.505 million shares worth N16.146 billion in 1,423 deals, contributing 68.43 per cent and 69.77 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 5,637units of Exchange Traded Products (ETPs) valued at N1.301 million executed in 5 deals compared with a total of 5,727 units valued at N2.284 million that was transacted last week in 11 deals.

A total of 3,032 units of Federal Government Bonds valued at N3.046 million were traded this week in 16 deals compared with a total of 1,034 units valued at N980,295.60 transacted last week in 10 deals.

A look at the price movement chart showed that only 30 equities appreciated in price during the week, higher than 24 in the previous week. 24 equities depreciated in price, lower than thirty-six 36 of the previous week, while 115 equities remained unchanged higher than 109 equities recorded in the preceding week.


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