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Published On: Mon, Feb 5th, 2018

Blue chips drag down market by 2.09%

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From Ngozi Onyeakusi, Lagos

Transactions at the nation’s bourse last week ended on bearish note as the twin market indicators ended red.
Specifically, the NSE All-Share Index depreciated by 1.98% to close at at 44,639.99 basis points from 43,773.76 basis points it opened with while the Market Capitalization equally decreased by 2.09% to closed at N16.019 trillion from N16.154trillion recorded the previous week.
Similarly, all other indices finished higher during the week with the exception of the NSE-Main Board, NSE Consumer Goods and NSE Oil/Gas Indices that depreciated by 0.33%, 3.33% and 0.70%respectively while the NSE ASeM Index closed flat.
Meanwhile, a total turnover of 3.268 billion shares worth N28.123 billion in 35,761 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 7.157 billion shares valued at N42.545 billion that exchanged hands last week in 39,037 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.482 billion shares valued at N17.056 billion traded in 23,039 deals; thus contributing 75.96% and 60.65% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 375.113 million shares worth N1.047 billion in 1,968 deals. The third place was occupied by Consumer Goods Industry with a turnover of 262.198 million shares worth N6.843 billion in 5,921 deals.
Trading in the Top Three Equities namely – FCMB Group Plc, Transnational Corporation of Nigeria Plc, and Skye Bank Plc (measured by volume) accounted for 1.181 billion shares worth N2.830 billion in 5,219 deals, contributing 36.14% and 10.06% to the total equity turnover volume and value respectively.
Review of activity in the market showed that Forty-nine (49) equities appreciated in price during the week, higher than thirty (30) of the previous week. Forty-two (42) equities depreciated in price, lower than forty-four (44) equities of the previous week, while eighty-one (81) equities remained unchanged lower than ninety-eight (98) equities recorded in the preceding week.
AIICO Insurance Plc led gainers table during the week, gaining 35.59 per cent or N0.21 kobo to close at N0.80 kobo, Unity Bank Plc followed with a gain of 31.75 per cent or N0.40 kobo to close at N1.66 kobo while Wema Bank added 31.58 per cent or N0.36 kobo to close at N1.50 kobo.
Other companies that appreciated in price were C&I Leasing Plc 25.81 per cent, NPF Microfinance Bank 25.11 per cent. Diamond Bank Plc 23.11 per cent, Wapic Insurance Plc 22.95 per cent, Champion Breweries Plc 22.13 per cent, Sterling Bank plc 18.85 per cent, Learn Africa Plc 18.56 per cent.
On the other hand, Lasaco Assurance Plc topped losers chart, declining by 28.00 or N0.14 kobo to close at N0.36 kobo. Associated Bus Company Plc trailed with a loss of 20.0 per cent or N0.10kobo to close at N0.40 kobo, Union and Rock Insurance Plc down by 16.67 per cent or N0.16 kobo to close at N0.80 kobo.

Other quoted firms that depreciated in price were African Alliance Insurance Plc 16.00, Royal Exchange Plc 16.00, International Breweries 9.45 per cent, Linkage Assurance Plc 9.33 per cent, Newrest ASL Nigeria Plc 8.93 per cent, FTN Cocoa Processors Plc 8.00, Unic Diversified Holdings Plc 8.00 per cent

Also traded during the week were a total of 32,189 units of Exchange Traded Products (ETPs) valued at N1.299 million executed in 19 deals, compared with a total of 153,755 units valued at N1.883 million that was transacted last week in 11 deals.

A total of 16,268 units of Federal Government Bonds valued at N17.053 million were traded this week in 28 deals, compared with a total of 6,715 units valued at N5.318 million transacted last week in15 deals.

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