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Equity market closes in negatively , declined by N295bn

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Transactions on the floor of Nigerian Stock Exchange (NSE) last week close in negative trend dropping by N295 billion.Specifically, market capitalization of listed equities depreciated by 2.52 per cent to N11.424 trillion from N11.719 trillion reported the previous week. The NSE All Share Index (ASI) also declined by 790.27 basis points to 30636.36 points from 31436.63 points reported the preceding week. The NSE trading result showed that all other indices closes lower with the exception of the NSE Oil/Gas Index that rose by 0.05 per cent.

NSE Corporate Governance index sheds 36.65 to 1,197.64, NSE Premium Index declined by 49.79 to 2142.64 points, the NSE Main Board index down by 39.02 to 1,401.84 points, NSE ASeM index decrease by 1.02 to 790.06 points, NSE 30 index went down by 36.28 to 1366.69, NSE Banking index dropped by 10.05 to 396.59 points, NSE Insurance index sheds 2.77 to 121.98 points, NSE AFR Bank Value index decrease by 31.63 to 993.42 points, NSE AFR Div. Yield index down by 25.86 to 1391.29 points, NSE Consumer Goods Index fell by 24.15 to 696.73 points, NSE Lotus II depreciated byb 46.57 to 2229.21 points, NSE industrial Goods index 48.45 to 1270.52 points, NSE Pension index dropped by 34.08 to 1178.76 points

The trading activities at the NSE indicated that investors traded a turnover of 1.452 billion shares worth N14.788 billion in 19,318 deals in contrast to a total of 1.807 billion shares valued at N17.232 billion that exchanged hands the previous week in 18,332 deals.

The Financial Services Industry led the activity chart for the week accounting for 1.204 billion shares valued at N10.500 billion traded in 12,671 deals, contributing 82.95 per cent and 71.00 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with account of 93.206 million shares worth N138.014 million in 916 deals. The third place was Consumer Goods Industry with a turnover of 71.404 million shares worth N3.170 billion in 2,698 deals.

Trading in the top three equities namely, United Bank for Africa Plc, Zenith Bank Plc and Consolidated Hallmark Insurance Plc accounted for 447.620 million shares worth N4.453 billion in 3,193 deals, contributing 30.83 per cent and 30.11 per cent to the total equity turnover
volume and value respectively.

An analysis of the investment revealed 16 equities appreciated in price during the week, against 40 in the previous week. The NSE weekly showed that 50 listed companies depreciated in price, compared with 25 of the previous week, while 102 equities remained unchanged against 103 equities recorded in the preceding week

The report for the week showed that Associated Bus Company PLC led gainers table during the week, gaining 24.14 per cent or N0.07 kobo to N0.36 kobo, Mutual Benefits Assurance Plc followed with a gain of 10.00 or N0.02 kobo to close at N0.22 kobo, Betaglass Plc appreciated by 9.09 per cent or N5.00 to close at N60.00. Other companies recorded price appreciation were Sterling Bank Plc 8.41 per cent , UACN Property Development Company Plc 8.18 per cent , Vitafoam Nigeria Plc 6.68 per cent, UACN Plc 6.36 per cent, Champion Breweries Plc 5.88 per cent , Total Nigeria Plc 4.10 per cent, University Press Plc 4.00 per cent.

Conversely, Consolidated Hallmark Insurance recorded the highest loss during the week, declining by 17.14 per cent or N0.06 kobo to close at N0.29 kobo, Niger Insurance Plc followed with a drop of 15.38 per cent or N0.04 kobo to close at N0.22 kobo, Dangote Flour Mills Plc down by 10.77 per cent or N0.70 kobo to close at N5.80 kobo. Other firms depreciated in price were Ikeja Hotel Plc 10.71 per cent, Academy Press Plc 10.00 per cent, AIICO Insurance Plc 9.86 per cent, Newrest ASL Nigeria Plc 9.79 per cent, Berger Paints Plc 9.68 per cent, First Aluminium Nigeria Plc 8.57 per cent and Meyer Plc 8.47 per cent.

Also traded during the week were a total of 668 units of Exchange Traded Products (ETPs) valued at N58,897.50 executed in 21 deals compared with a total of 34,341 units valued at N440,166.37 that was transacted last week in 7 deals.A total of 4,336 units of Federal Government Bonds valued at N4.308 million were traded this week in 26 deals compared with a total of 3,498 units valued at N3.131 million transacted last week in 20

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