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Published On: Sun, Oct 12th, 2014

NSE: Investors lose N218bn in three days

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NSE_The_Nigerian_Stock_ExcahngeFrom Ngozi Onyeakusi, Lagos

Heavy investment losses occasioned by  sharp drop in the share price  of equities listed  on the floor  of the Nigeria Stock Exchange (NSE) last week resulted in the market recording losses to the tune N218 billion on investment.

 Specifically, the Market Capitalization  of listed  equities depreciated  by  1.60%  to close on Friday at N13.354 trillion against  N13.572 trillion it opened with while  NSE All-Share Index equally dropped   by 1.60 per cent to 40,444.39  basis points from 41,103.94 basis points recorded last week.

 Similarly,  all the indices  depreciated  during the week with the exception of  the  NSE  Consumer Goods Index that rose by  0.37%.However the NSE  ASeM Index closed flat

The NSE 30 index fell by 31.04 basis points to 1,844.59 , NSE Banking index down by 12.33 to 415.96 points, the NSE insurance index dropped by  2.65 basis points to 145.75, NSE Oil/Gas index 10.46 basis points to 450.87, industrial Goods index 15.30 points to 2,723.85 points.

Meanwhile it was  another brief trading week as  the  Federal Government  of Nigeria  declared Monday 6th and Tuesday, 7th of October, 2014 as Public Holidays in celebration of the Eid-el-Kabir.

 Review of activity in the market showed that  a  turnover  of  1.351  billion shares worth N14.471  billion in  14,680  deals were traded by investors in contrast to a total of  2.588  billion  shares  valued at N24.902 billion that exchanged hands in 18,750 deals the previous week.

The Financial Services Industry (measured by volume) led the activity chart with  673.157  million shares valued at N7.011  billion traded in  7,922  deals; thus contributing  49.84% and 48.45% to the total equity turnover volume and value respectively. The  Conglomerates  Industry followed with a turnover of 523.359  million  shares worth  3.187  billion in  1,056  deals. The  third place was occupied by  Services Industry with 70.653 million shares worth N176.367 million in 629 deals.

Trading in The Top Three Equities namely- Transnational Corporation of Nigeria Plc, Zenith International Bank Plc  and Skye Bank Plc  (measured by volume) accounted for 672.382  million shares worth N4.956 billion in  2,771  deals, contributing  49.78.%  and  34.25% to the total equity turnover volume and value respectively.

Nineteen  (19)  equities appreciated in prices during the week  lower  than  forty  (40)  equities  of the preceding week. Thirty-eight (38) equities depreciated in prices higher than thirty-four (34) equities of the preceding week, while one hundred and forty-three  (143) equities  remained unchanged  higher than  one

hundred and twenty six (126) recorded in the preceding week.

 Ikeja Hotel Plc led the gainers table for the week in percentage terms, appreciating by 33.00 or N0.66 kobo to close at N2.66 kobo, Champion Breweries followed with 27.37 per cent or N3.88 kobo to close at N3.38 kobo while Conoil Plc gained 10.23 per cent or N4.81 kobo to close at N51.82 kobo. Other companies that appreciated in price were Learn African 9.09 per cent,  Cutix Plc 5.00 per cent,  Live Stock Feeds Plc  3.01 per cent,  Fidson Health Care Plc 2.10 per cent, Nigeria n Breweries 1.89 per cent, Eterna Plc 1.60 per cent and Associated Bus Company Plc 1.47 per cent.

 Converesely, A.G. Leventis Nigeria Plc topped losers chart dropping by 13.64 points or N0.21 kobo to close at N1.33 kobo, UACN Property Development Company Plc trailed with 8.25 per cent or N1.35 kobo to  N14.50 kobo while Stanbic IBTC Holding loss 8.49 per cent or N2.97 kobo to  close at N32.03 kobo.

Other firms that recorded price depreciation were Zenith  International Bank 6.17 per cent, UBA Capital Plc 5.96 per cent, Oando Plc 5.20 per cent Transnational Corporation of Nigeria plc 5.18 per cent, International Energy Insurance Company Plc 5.08 per cent, Premier Breweries 5.0 per cent and 5.0 per cent and Mansard Insurance Plc 4.83 per cent.

Also traded during the week were a total of 3,651  units of Exchange Traded Products (ETPs) valued at N165,346.40  executed in  10  deals compared  with a total of  3,597  units  valued at  N147,560.65 transacted last week in 15  deals.

There were  no transactions on bonds in the week under review.  However a total of 10  units of Federal Government Bond valued at N11, 630.89 in 1 deal were transacted within the week.

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