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.