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Published On: Mon, Jan 1st, 2018

NSE: Blue Chips drag down market by 0.72%

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From Ngozi Onyeakusi, Lagos

Heavy investment losses last week greeted equities quoted at the Nigeria Stock Exchange (NSE) as the twin market indicators ended red.
Specifically, the NSE All-Share Index depreciated by 0.72% to close at 38,243.19 basis points from 38,522.14 basis points it opened with while the Market Capitalization equally increased by 0.72% to closed at N13.609 trillion from N13.709 trillion from recorded the previous week.
However, all other indices finished higher during the week with the exception of the NSE Premium, NSE ASeM, NSE 30, and NSE Industrial Goods Indices that depreciated by 3.32%, 3.42%, 0.27% and 1.28% respectively.

Meanwhile, it was a brief trading week as market opened for three days in observance of the public holidays
(Monday 25th and Tuesday 26th December 2017) as declared by the Federal Government of Nigeria.
Review of activity in the market showed that a total turnover of 1.310 billion shares worth N12.635 billion in 9,016 deals were traded by investors in contrast to a total of 2.243 billion shares valued at N139.789 billion that exchanged hands in 18,466 deals the previous week.
As usual the Financial Services Industry (measured by volume) led the activity chart with 886.327 million shares valued at N4.829 billion traded in 4,998 deals; thus contributing 67.68% and 38.22% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 307.946 million shares worth N466.045 million in 471 deals. The third place was occupied by Consumer Goods Industry with a turnover of 61.258 million shares worth N1.507 billion in 2,001 deals.
Trading in the Top Three Equities namely – Transnational Corporation of Nigeria Plc, AIICO Insurance Plc Cement Plc and Fidelity Bank Insurance Plc (measured by volume) accounted for 736.889 million shares worth N998.336 million in 899 deals, contributing 56.27% and 7.90% to the total equity turnover volume and value respectively.
II Plc led gainers table during the week, gaining 14.47 per cent or N24.60 kobo to close at N194.60 kobo, N.E.M Insurance Company Nigeria Plc followed with a gain of 10.67 per cent or N0.16 kobo to close at N1.66 kobo, FCMB Group Plc appreciated by 9.63 per cent or N0.13 kobo to close at N1.48 kobo.
Other companies appreciated in price were Cadbury Nigeria Plc 9.35 per cent, Law and Rock Insurance Plc 8.45 per cent, Sterling Bank Plc 8.0 per cent, Nestle Nigeria Plc 5.49 per cent, Seplat Petroleum Development Company Limited 5.0 per cent Total Nigeria Plc 5.0 per cent, Medview Airline Plc 4.74 per cent.
On the other hand, Omoluabi Mortgage Bank Plc topped losers chart, dropping by 8.54 per cent or N0.07 kobo to close at N0 75 kobo, Lives Stock Feeds Plc trailed with a loss of 6.74 per cent or N0.06 kobo to close at N0.83 kobo, Okomu Oil Palm Plc fell by 5.0 per cent or N3.56 kobo to close at N67.69 kobo.
Other firms that recorded price depreciation were Presco Plc 4.86 per cent, Mcnichol Plc 4.76 per cent, Caverton Offshore Support GRP Plc 4.44 per cent, Linkage Insurance Plc 4.35 kobo, Dangote Cement Plc 4.17 per cent, Externa Plc 4.02 per cent, Axamansard Insurance 3.98 per cent.
Also traded during the week were a total of 276 units of Exchange Traded Products (ETPs) valued at N9,865.34 executed in 12 deals, compared with a total of 3,070 units valued at N455,245.00 that was transacted last week in 8 deals.
A total of 422,672 units of three (3) Federal Government Bonds and One (1) State bond valued at N436.190 million were traded this week in 20 deals, compared with a total of 3,780 units valued at N3.931 million transacted last week in 17 deals.

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