Stock market investors lose N2bn in one week


Investors in the equities market of the Nigerian Stock Exchange (NSE) recorded another dismal performance, closing negative in favaour of the bears to lose Na2 billioan in one week.aa

The NSE ASI lost 3.37 basis points, representing a decline of 0.01 per cent to close at 31,139.35 basis points from 31,142.72 basis points reported in previous week.

Consequently, Market statistics obtained by the Nigerian NewsDirect showed that the market capitalisation, which opened trading on March 18 at N11.614 trillion, lost N2 billion or 0.01 per cent to close trading on March 22 at N11.612 trillion.

In the week under review, a total turnover of 1.198 billion shares worth N12.273 billion in 18,293 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.113 billion shares valued at N13.465 billion that exchanged hands last week in 15,036 deals.

However, all other indices finished lower with the exception of the NSE CG, NSE Premium, NSE ASeM, NSE Banking, NSE-AFR Bank Value, NSE AFR Div Yield, NSE Industrial Goods and NSE Pension indices which appreciated by 0.66 per cent, 0.27 per cent, 0.55 per cent, 3.82 per cent, 4.76 per cent, 2.97 per cent, 2.42 per cent and 0.71 per cent respectively.

Analysts at APT Securities and Fund Limited said that, “We are optimistic of a mid to long term positive outing backed by good fundamentals.”

Mcnichols Plc topped the gainers’ chart with 22.81 per cent or 13 kobo to close at 70 kobo per share. Access Bank Plc followed with 18.10 per cent or N1.05 to close at N6.85 as Dangote Flour Mills Plc garnered 13.73 per cent or N1.40 to close at N11.60 per share. Fidelity Bank Plc grew by 10.75 per cent or 23 kobo to close at N2.37, while Prestige Assurance Plc appreciated by 10 per cent or 5 kobo to close at N0.55 per  share.

On the contrary, Cutix Plc led the losers’ chart, reducing by 17.78 per cent or N0.40 to close at N1.85 per share. Cadbury Nigeria Plc followed with a loss of 17.50 per cent or N2.10 to close at N9.90, while Ikeja Hotel Plc was down by 17.39 per cent or N0.36 to close at N1.71 per share. Royal Exchange Plc shed 17.14 per cent or N0.06 to close at N0.29. UACN Property Development Company Plc declined by 12.82 per cent or N0.25to close at N1.70 per share.

Further breakdown of the trading showed that “The Financial Services Industry (measured by volume) led the activity chart with 1.014 billion shares valued at N9.693 billion traded in 12,165 deals; thus contributing 84.63 per cent and 78.98 per cent to the total equity turnover volume and value respectively.

“The Consumer Goods Industry followed with 58.049 million shares worth N1.398 billion in 2,689 deals. The third place was Conglomerates Industry with a turnover of 46.272 million shares worth N103.316 million in 626 deals.

“Trading in the Top Three Equities namely, Access Bank Plc, Zenith Bank Plc and United Bank for Africa Plc (measured by volume) accounted for 651.600 million shares worth N6.294 billion in 6,505 deals, contributing 54.39 per cent and 51.28 per cent to the total equity turnover volume and value respectively.”

Also traded during the week were a total of 7,165 units of Exchange Traded Products (ETPs) valued at N1.933 million executed in 2 deals compared with a total of 10,598 units valued at N1.355 million that was transacted last week in 5 deals.

A total of 2,224 units of Federal Government Bonds valued at N2.324 million were traded this week in 18 deals compared with a total of 201 units valued at N205,083.12 transacted last week in 2 deals.

According to report gathered on the NSE, “32 equities appreciated in price during the week, higher than eighteen (18) in the previous week. 38 equities depreciated in price, lower than 45 equities of the previous week, while 98 equities remained unchanged lower than 105 equities recorded in the preceding week.”