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Investors lose N262bn on NSE

Investors’ woes heightened last week, as the value of their investment on the Nigerian Stock Exchange (NSE) dipped by N262.4 billion.
The dip in their investment value was engendered by continuous decline in the key market indices, represented by the market capitalisation and All-share index. Both the capitalisation and index depreciated by 4.51 per cent each.

Specifically, the index which opened at 25,382.50 points shed 1,144.65 basis points to close the week at 24,237.85 points while the capitalisation dipped by N262.4 billion to close at N5.612 trillion from N5.770 trillion at which it opened.

The decline was occasioned by losses on the share prices of majority of the listed equities, with Benue Cement Company Plc recording the most share price loss, dropping by N6.65 to close at N42.35 per share, Total Nigeria Plc followed with a loss of N6.50 to close at N145.50 per share and Chevron Oil Nigeria Plc dipped by N4.47 to close at N85.60 per share.

Other share price losers include: Nigerian Breweries Plc N4.14, Lafarge Cement WAPCO Nigeria Plc N3.40, African Petroleum Plc  N3.32, Julius Berger Nigeria Plc N3.2, Nigeria Enamelware Company Plc N2.94, UAC Nigeria Plc N2.50, Nigerian Aviation Handling Cmpany Plc N2.36 among others.

On the contrary, Nestle Nigeria Plc recorded the most share price gain, rising by N13.65 to close at N212.10 per share, Guinness Nigeria Plc followed with a gain of N4.50 to close at N144.00 per share and Mobil Oil Nigeria Plc garnered N4.00 to close at N114.00 per share.
Other share price gainers include: Oando Plc N2.20, Unilever Nigeria Plc N1.04, Ecobank Transnational Incorporated N1.03, Longman Nigeria Plc N0.94, Seven-up Bottling Company Plc   N0.49, Stanbic IBTC Bank Plc N0.44, University Press Plc N0.38 among others.

Equity trading in the week under review, dipped by 21.22 per cent, as a turnover of 2.45 billion shares valued at N18.73 billion in 39,606 deals, in contrast to the previous week  was recorded this week, in contrast to a turnover of 3.11 billion shares valued at N24.63 billion in 41,079 deals.

The Banking sub-sector recorded the highest patronage, accounting for 58.78 per cent of the market turnover, with 1.44 billion shares worth N14.56 billion exchanged by investors in 20,689 deals. United Bank for Africa Plc emerged the most active in the sub-sector, trading 668.6 million shares valued at N8.6 billion in 1,666 deals, followed by Skye Bank Plc with the exchange of 133.62 million shares valued at N733.83 million in 1,394 deals and First Bank of Nigeria Plc recorded 87.27 million shares valued at N1.35 billion in 4,302 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 26.49 per cent of the market turnover, with 648.61 million shares valued at N606.6 million in 5,803 deals.

International Energy Insurance dominated trading in the sub-sector, with the exchange of 280.65 million shares valued at 231.11 million in 484 deals, AIICO Insurance Plc followed with the trading of 107.29 million shares valued at N141.6 million in 3,669 deals and Goldlink Insurance Plc recorded 72.63 million shares valued at N36.31 million in 19 deals.


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