Equities closed 7th negative week with N140bn loss

Investors lose N33bn as bears reclaim NGX floor

Equities closed 7th negative week with N140bn loss


 

 

The Nigerian stock market extended its decline last week for the seven consecutive week as investors lost N140 billion.

The negative record was despite three bullish session out of the five in the week and impressive rise in the banking index. The decline was however caused by continuous profit-taking and rising yield in the fixed income market.

The Nigerian Stock Exchange All-Share Index (NSEASI) and market capitalisation depreciated by 0.69 per cent to close the week at 38,382.39 and N20.082 trillion respectively.

All other indices, however, finished higher with the exception of NSE Mainboard, NSE 30, NSE Insurance, NSE Consumer Goods, NSE Lotus II, NSE Industrial and NSE Growth Indices, which declined by 1.68 per cent, 0.99, per cent, 0.01 per cent, 1.46 per cent, 1.51 per cent, 2.62 percent and 0.25 per cent while the NSE Sovereign Bond Index closed flat.

A total turnover of 2.34 billion shares worth N19.27 billion in 20,173 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 1.68 billion shares valued at N23.54 billion that exchanged hands in 21,732 deals in the previous week

The financial services industry (measured by volume) led the activity chart with 1.89 billion shares valued at N12.45 billion traded in 12,019 deals, thus contributing 80.60 per cent and 64.58 per cent to the total equity turnover volume and value respectively.

The natural resources industry followed with 201.26 million shares worth N41.29 million in 27 deals.

The third place was occupied by the conglomerates goods industry, with a turnover of 62.05 million shares worth N65.67 million in 612 deals.

Trading in the top three equities, namely Unity Bank Plc, Guaranty Trust Bank Plc and Multiverse Mining and Exploration Plc (measured by volume) accounted for 1.47 billion shares worth N7.11 billion in 2,317 deals, contributing 62.82 per cent and 36.91 per cent to the total equity turnover volume and value respectively.

Thirty-three equities appreciated in price during the week, compared with 35 equities in the previous week; 25 equities depreciated in price, compared with 38 in the previous week, while 104 equities remained unchanged, up from 89 recorded in the previous week.

A total of 435,459 units of Exchange Traded Product (ETPs) valued at N2.35 billion was traded last week in 29 deals, compared with a total of 217,600 units valued at N3.69 million transacted in six deals in the previous week.

A total of 295,829 units of bonds valued at N304.86 million was traded last week in 20 deals, compared with a total of 9,192 units valued at N10.67 million transacted in six deals in the previous week.