Investors in Nigerian equities lost N162 billion in capital gains as turnover at the stock market declined by more than one-third. The decline moderated the average year-to-date return for Nigerian equities to 3.40 per cent at the weekend.
The All Share Index (ASI), the common value-based index that tracks all share prices at the Nigerian Stock Exchange (NSE) indicated average decline of 1.11 per cent last week, equivalent to net capital loss of N162 billion.
The ASI dropped from its week’s opening index of 28,067.09 points to close weekend at 27,755.87 points. Aggregate market value of all quoted equities on the NSE also dropped correspondingly from its week’s opening value of N14.618 trillion to close at N14.456 trillion.
All sectoral indices also closed negative with the exception of the NSE Industrial Goods Index, which rose by 0.78 per cent. The NSE 30 Index, which tracks the 30 largest stocks, dropped by 1.30 per cent. The NSE Banking Index slipped by 0.21 per cent. The NSE Insurance Index dipped by 2.16 per cent. The NSE Consumer Goods Index dropped by 6.47 per cent while the NSE Oil and Gas Index depreciated by 0.69 per cent.
Total turnover dropped to 912.175 million shares worth N12.126 billion in 17,083 deals last week as against a total of 1.478 billion shares valued at N20.295 billion traded in 23,263 deals two weeks ago.
The financial services sector led the activity chart with 624.219 million shares valued at N7.129 billion traded in 9,640 deals; thus contributing 68.43 per cent and 58.79 per cent to the total equity turnover volume and value respectively. The conglomerates sector followed with 93.204 million shares worth N452.093 million in 861 deals while oil and gas sector placed third with a turnover of 59.267 million shares worth N124.638 million in 1,254 deals.
Banking stocks dominated the activities chart with three of Nigeria’s top seven banks leading the chart. The three most active stocks-Zenith Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc accounted for 304.089 million shares worth N5.788 billion in 4,290 deals, contributing 33.34 per cent and 47.73 per cent to the total equity turnover volume and value respectively.
Also, a total of 1,540 units valued at N137,421 were traded in five deals compared with a total of 3,840 units valued at N12.029 million traded in eight deals penultimate week.
In the sovereign debt market, a total of 23,923 units of Federal Government bonds valued at N28.986 million were traded in 22 deals compared with a total of 55,246 units valued at N63.094 million traded in 15 deals two weeks ago.
There were 19 gainers and 35 losers last week as against 15 gainers and 49 losers recorded in the previous week. Livestock Feeds led the gainers, in percentage terms, with a gain of 16.67 per cent to close at 70 kobo. United Capital followed with a gain of 15.29 per cent to close at N2.94. Transnation-wide Express rose by 11.11 per cent to close at 90 kobo. Learn Africa appreciated by 9.73 per cent to close at N1.24 while Prestige Assurance rose by 9.26 per cent to close at 59 kobo per share.
On the negative side, Skyway Aviation Handling Company led the decline with a drop of 23.26 per cent to close at N2.87. Guinness Nigeria followed with a drop of 16.56 per cent to close at N25.20. Vitafoam Nigeria dropped by 12.11 per cent to close at N4.79. Nestle Nigeria and Neimeth International Pharmaceuticals lost 10 per cent each to close at N1,242 and 45 kobo respectively while MRS Oil Nigeria dropped by 9.8 per cent to close at N13.80 per share.
