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Published On: Sun, Nov 2nd, 2014

NSE: Investors lose N469 billion in five days

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Stories from Ngozi Onyeakusi, Lagos

Heavy investment loses occasioned by drop in share price of listed equities on the floor of the Nigeria Stock Exchange (NSE) last week resulted in the market losing a whooping N469 billion on investment.

The market capitalization of listed equities depreciated by 3.64% to close on Friday at N12.437 trillion from N12.906 it opened with while the NSE All-Share Index equally dropped 3.93% to close at 37,550.24 from 39,087.10 recorded last week.

Similarly, all the indices depreciated during the week with the exception of the NSE Insurance Index that rose by 0.93% to close at 147.96. The NSE 30 index fell by 78.85 basis points to 1683.73, NSE Banking index dropped by 24.40 to 373.92, NSE Consumer goods 46.88 basis points to 920.53, NSE Oil/ Gas index went down 20.82 to 416.79 points , NSE Lotus II index decreased by 71.04 to 2,462.46, NSE Industrial Goods index down by 60.28 basis points to 2,550.21 while the NSE ASeM closed flat.

Meanwhile a turnover of 2.097 billion shares worth N20.231 billion in 21,802 deals were traded by investors in contrast to a total of 1.413 billion shares valued at N17.038 billion that exchanged hands in 24,427 deals the previous week.

Review of activity in the market showed that the Financial Services Industry (measured by volume) led the activity chart with 1.590 billion shares valued at N11.360 billion traded in 12,321 deals; thus contributing 75.84% and 56.15% to the total equity turnover volume and value respectively. Natural Resources Industry followed with a turnover of 200.178 million shares worth 100.153 million in 16 deals. The third place was occupied by Conglomerates Industry with 153.749 million shares worth N982.796 million in 1,525 deals.

Also trading in The Top Three Equities namely- Mansard Insurance Plc, Multiverse Plc and Ecobank Transnational Incorporated (measured by volume) accounted for 622.729 million shares worth N3.771 billion in 581 deals, contributing 29.70% and 18.64% to the total equity turnover volume and value respectively.

Twenty-four (24) equities appreciated in price during the week lower than fifty-four (54) equities of the preceding week. Fifty-four (54) equities depreciated in price higher than sixteen (16) equities of the preceding week, while one hundred and twenty one (121) equities remained unchanged lower than one hundred and thirty (130) recorded in the preceding week Evans Medical Plc led gainers table in percentage terms, growing 12.82 per cent or N0.25 kobo to close at N2.20 kobo, Royal Exchange Assurance Plc 7.84 per cent or N0.04 kobo to close at N0.55 kobo while R.T. Briscoe Nigeria Plc increased by 7.14 per cent or N0.06 per cent to close at N0.94 kobo. Other companies appreciated in price were Sterling Bank Plc 5.83 per cent , Continental Reinsurance Plc gained 5.43 per cent, Betaglass Company Nigeria Plc advanced by 5.0 per cent AIICO Insurance Plc 4.94 per cent, Parma-Deko Plc 4.82 per cent, Golden Guinea Breweries Plc 4.55 per cent and Fidson Healthcare 4.50 per cent.

On the contrary, Transnational Corporation of Nigeria (Transcorp) topped losers chart, shedding 19.20 per cent or N0.96 kobo to close at N4.04 kobo while United Bank for Africa Plc decline by 16.08 per cent or N0.19 kobo to close at N4.75 kobo while Cadbury Nigeria Plc dropped 14.25 per cent or N7.11 kobo to close at N42.78 kobo. Other companies depreciated in price were Ikeja Hotel Plc 13.46 per cent, Union Bank of Nigeria Plc 12.80 per cent, Skye Bank Plc 12.73 per cent, Neimeth International Pharmaceutical Plc 12.61 per cent, PZ Industries Plc 11.67 per cent, Cement Company Nigeria (CCNN) 11.39 per cent and Guinness Nigeria Plc 11.26 per cent.

Also traded during the week were a total of 100,812 units of Exchange Traded Products (ETPs) valued at N1.765 million executed in 13 deals compared with a total of 702,099 units valued at N12.971 million transacted last week in 19 deals.

There were no transactions recorded in bonds in the week under review. However, a total of 4,600 units valued at N4.768 were transacted last week in 1 deal.


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