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Published On: Sun, Aug 3rd, 2014

Investors wealth dips by 0.8%

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NSEFrom Ngozi Onyeakusi Lagos

Equity transaction on the floor of the Nigeria Stock Exchange last week closed on bearish note as the market indicators ended flat.

Specifically, Market Capitalization of listed equities depreciated by 0.83% to close with N13.847 trillion from N13.963 trillion it opened with while the NSE All-Share Index closed Friday at 41,934.40 basis point from 42,285.82 basis points recorded the previous week.

Similarly, all the NSE sector indices depreciated during the week with the exception of the NSE Consumer Goods Index, NSE Oil and Gas Index and NSE Industrial Goods Index that appreciated during the week by 0.14 per cent, 3.93 per cent and 0.41 per cent respectively.

The NSE 30 Index shed 19.83 basis points to 1,913.38 points, NSE Banking index went down by 14.21 to 427.51, the NSE Insurance Index dropped by 0.96 to 147.77, NSE Lotus II declined by 22.01 basis points to 2,791.18. Meanwhile, NSE ASeM index closed flat at 951.96 points.

Meanwhile, it was a three-day trading week as the Federal Government of Nigeria declared Monday, 28th and Tuesday, 29 th July 2014 a public holiday to mark the End of the Holy Month of Ramadan and Eid Ul Fitr celebrations.

Review of activities in the market showed that a turnover of 1.345 billion shares worth N19.580 billion in 17,075 deals were traded by investors in contrast to a total of 1.778 billion shares valued at N38.103 billion that exchanged hands in 24,186 deals the previous week.

The Financial Services Industry (measured by volume) led the activity chart with 1.019 billion shares valued at N9.004 billion traded in 7,704 deals; thus contributing 75.78% and 45.98% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with a turnover of 105.811 million shares worth 696.406 million in 1,262 deals. The third place was occupied by the Oil and Gas Industry with 88.513 million shares worth N2.692 billion in 3,157 deals.

Further analysis indicated that trading in The Top Three Equities Namely- Access Bank Plc, Wema Bank Plc and Transnational Corporation Of Nigeria Plc (measured by volume) accounted for 539.349 million shares worth N3.514 billion in 1,654 deals, contributing 40.10% and 17.95% to the total equity turnover volume and value respectively.

Twenty-seven (27) equities appreciated in prices during the week higher than Twenty-six (26) equities of the preceding week. Forty-seven (47) equities depreciated in prices lower than Fifty-four (54) equities of

the preceding week, while one hundred and twenty-six (126) equities remained unchanged higher than one hundred and twenty (120) recorded in the preceding week.

Evans Medical Plc led the gainers table in percentage terms, growing by 9.71 per cent or N0.20 kobo to close at N2.26 kobo, A.G. Leventis (Nigeria) Plc followed 9.70 per cent or N0.13 kobo to close at N1.47 kobo while Ashaka Cement Plc gained 9.02 per cent or N2.73 kobo to close at N33.00. other stocks that appreciated were 7UP Bottling Company 6.97 per cent, University Press Plc 6.76 per cent, Stanbic IBTC Holdings 6.57 per cent, Oando Plc 6.01 per cent, Forte Oil Plc 5.97 per cent, Flour Mills Nigeria Plc 4.99 per cent and Cutix 4.74 per cent On the contrary, Redstar Express Plc led losers table, dropping by 12 per cent or N0.60 kobo to close at N4.40 kobo, NEM Insurance trailed with a loss of 7.32 per cent or N0.06 kobo to close at N0.76 kobo while Guaranty Trust Bank fell by 7.10 per cent or N2.20 kobo to close at N28.80 kobo. Other companies that recorded price depreciation were Skye Bank Plc 5.94 per cent, Glaxo SmithKline Consumer Nigeria Plc 5.77 per cent, Fidson Healthcare Plc 5.66 per cent, Courtville Business Solutions Plc 5.56 per cent, FBN Holdings Plc 5.39 per cent, Diamond Bank Plc 5.22 per cent and United Bank for Africa Plc 5.19 per cent Also traded during the week were a total of 27,660 units of Exchange Traded Products (ETPs) valued at N613,729.40 executed in 13 deals compared with a total of 516,299 units valued at N10.120 million transacted in 17 deals within the week.

Similarly, 77,480 units of FGN bonds valued at N90.277 million were traded this week in 8 deals compared with a total of 300 units of FGN bonds valued at N349, 812.46 transacted in 3 deals.

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