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Investors lose N335bn on NSE

By Michael Eboh

Investors’ woes were heightened last week, as the value of their investment in quoted securities on the Nigerian Stock Exchange (NSE), dipped by N334.89 billion.

This was brought about by losses on the share prices of blue chip companies, which dragging down the market capitalisation and All-share index by 6.26 per cent.

The index which opened the week at 23,327.04 points dropped by 1,460.92 basis points to close at 21,866.12 points, while the capitalisation shed N334.89 billion to close at N5.012 trillion, from N5.347 trillion at which it opened.

However, Market analysts have predicted a rebound in the market, this week, this, according to them, is as a result of the attractive prices of majority of the stocks.

A stockbroker, Mr. Chinenyem Anyanwu, Managing Director, Dependable Securities Limited, disclosed that the share prices of most of the blue chip companies are presently trading much lower than their book value, a factor, which he noted, would endear investors to the stocks.

Conoil Plc recorded the most share price loss, dropping by N9.02 to close at N41.33 per share, Chevron Oil Nigeria Plc followed with a loss of N8.10 to close at N77.50 per share and African Petroleum Plc dipped by N7.43 to close at N39.50 per share.

Other share price losers include: Mobil Oil Nigeria Plc N5.41, Nigerian Bottling Company Plc N3.71, Nigerian Breweries Plc N3.00, CAP Plc N2.86, Union Bank Nigeria Plc N2.32, Oando Plc N2.01, GTBank Plc N1.94 among others.

On the other hand, Guinness Nigeria Plc recorded the most share price gain, rising by N5.10 to close at N135.10 per share, Seven-up Bottling Company Plc followed with a gain of N2.37 to close at N29.87 per share and Benue Cement Company Plc garnered N200 to close at N40.00 per share.

Other share price gainers include: Longman Nigeria Plc N1.00, Total Nigeria Plc N1.00, UAC Nigeria Plc N0.80, Unilever Nigeria Plc N0.49, PZ Cussons Nigeria Plc N0.49, National Salt Company Plc N0.38, Access Bank Plc N0.20 among others.

Equity trading also dipped by 0.95 per cent, as a turnover of 2.09 billion shares valued at N13.18 billion was recorded in the week under review in 29,963 deals, in contrast to the previous week’s turnover of 2.11 billion shares valued at N14 billion in 32,670 deals.
The Banking sub-sector dominated other sub-sectors, accounting for 52.38 per cent of the market turnover, with 1.1 billion shares valued at N9.43 billion in 15,239 deals.

Zenith Bank Plc recorded the highest patronage in the sub-sector, trading 256.06 million shares valued at N2.85 billion in 1,386 deals, followed by Access Bank Plc, with the exchange of 139.45 million shares valued at N935.77 million and GTBank Plc recorded 125.98 million shares valued at N1.66 billion in 2,238 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 12.71 per cent of the market turnover, 266.75 million shares valued at N252.34 million in 2,619 deals. Continental Reinsurance Plc recorded the most transactions in the sub-sector, trading 53.73 million shares valued at N71.78 million in 121 deals, followed by Standard Alliance Insurance Plc with the exchange of 26.65 million shares valued at N26.5 million in 205 deals and International Energy Insurance Plc recorded 21.7 million shares valued at N14.27 million in 261 deals.


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