Published On: Mon, Jun 13th, 2016

Equity Market: investors decry low returns

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Nigerian Stock Exchange (NSE)

Nigerian Stock Exchange (NSE)

Stories from Ngozi Onyeakusi, Lagos

Transaction on the floor of the Nigeria Stock Exchange (NSE) last week ended on the bearish note as market indicators turned red.
Specifically, the NSE All-Share Index depreciated by 1.45% to close at 27,232.62 basis points from 27,634.42 basis points it opened with while the Market Capitalization of listed equities as well decreased by 1.45% to close at N9.491 trillion from N9.926 trillion recorded the previous week.
Similarly, all other Indices finished lower during the week, with the exception of the NSE ASeM Index, NSE Insurance Index and the NSE Oil/Gas Index that rose by 0.25%, 1.71% and 1.97% respectively.
Meanwhile, a turnover of 959.917 million shares worth N7.871 billion in 17,561 deals were traded by investors in contrast to a total of 1.263 billion shares valued at N11.583 billion that exchanged hands in 17,434 deals, the previous week.
The Financial Services Industry (measured by volume) led the activity chart with 782.476 million shares valued at N4.114 billion traded in 10,477 deals; thus contributing 81.51% and 52.27% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 59.433 million shares worth N99.619 million in 762 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 46.553 million shares worth N2.833 billion in 2,703 deals.
Trading in the Top Three Equities namely – United Bank For Africa Plc, FBN Holdings Plc and Access Bank Plc.(measured by volume) accounted for 288.689 million shares worth N1.275 billion in 3,854 deals, contributing 30.07% and 16.20% to the total equity turnover volume and value respectively.
The NSE All Share Index fell by 401.80 basis points to 27232.62 points from 27634.42 recorded the previous week. NSE Premium Index shed 39.41 per cent to 1,630.16 points, The NSE main board index dropped by 11.73 to 1,257.28, NSE 30 index declined by 18.57 to 1,210.68 points. NSE Banking Index went down by 2.69 basis points to 276.29, NSE Consumer goods index fell by 12.16 to 692.29 points, NSE Lotus II down by 14.35 to 1,801.14 points, NSE Industrial Goods Index 29.82 to 1,960.39 and NSE Pension Index decreased by 19.22 basis points to 822.56 points.
Twenty-seven (27) equities appreciated in price during the week, higher than twelve (12) equities of the previous week. Forty-one (41) equities depreciated in price, lower than Sixty (60) equities of the previous week, while one hundred and twelve (112) equities remained unchanged higher than one hundred and eight (108) equities of the previous week.
Unity Bank Plc led gainers table for the week, gaining 30.43 per cent or N0.28 kobo to close at N1.20 kobo, NEM Insurance Company Nigeria Plc followed with a gain of 24.68 per cent or N0.19 kobo to close at N0.96 while Union Dicon Salt Plc appreciated by 15.69 per cent or N1.95 kobo.
Other firms that recorded the price appreciation were Neimeth International Pharmaceutical Plc 13.92 per cent, Oando Plc 13.64 per cent, Berger Paints Nigeria Plc 9.93 per cent, Ecobank Transnational Incorporated 6.51 per cent, AIICO Insurance 5.41 per cent, Mcnichols Plc 5.26 per cent and Ashaka Cement Plc 4.99 per cent. Cadbbury Nigeria Plc topped losers chart, dropping by 9.71 per cent or N18.51 kobo to close at N20.50 kobo, Air Line Services and Logistics Plc trailed with a loss of 9.38 per cent or N0.18 kobo to close at N1.74 kobo, United Bank for Africa (UBA) depreciated by 9.11 per cent or N0.43 kobo to close at N4.29 kobo. Other companies that depreciated in price were GlaxosmithKline 8.95 per cent, Union Bank of Nigeria Plc 8.59 per cent, Skye Bank Plc 8.20 per cent, Red Star Express Plc 6.98 per cent, Fidson Healthcare Plc 6.83 per cent, Fidelity Bank Plc 5.30 per cent, FBNHoldings Plc 5.25 per cent.
Also traded during the week were a total of 78,666 units of Exchange Traded Products (ETPs) valued at
N866,656.30 executed in 25 deals, compared with a total of 6,500 units valued at N117,637.20 transacted last week in 24 deals.
A total of 4,725 units of Federal Government Bonds valued at N5.266 million were traded in 3 deals compared to a total of 151,970 units of Federal Government and Corporate Bonds valued at N170.962 million transacted last week in 5 deals.

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