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Investors lose N124bn on NSE

By Michael Eboh and Providence Obuh
A bearish trend was recorded on the secondary segment of the Nigerian capital market, last week, as investments on the Nigerian Stock Exchange (NSE), represented by the market capitalisation of listed equities, dipped by N142.34 billion.

In particular, the capitalisation dropped by 2.1 per cent to close the week at N6.627 trillion from N6.769 trillion at which it opened. The All-share index also dropped by 588.5 basis points to close at 27,400.21 points from 27,988.71 points.

Seventy-one stocks recorded significant price losses in the week under review, higher than the 53 in the preceding week. African Petroleum Plc recorded the highest share price loss, dropping by N7.39 to close at N40.00 per share, followed by Guaranty Trust Bank Plc with a loss of N5.98 to close at N18.48 per share and Nigerian Bottling Company Plc dipped by N5.05 to close at N34.30 per share.

Other price losers include Flour Mills Nigeria Plc N3.50, UACN Property Development Company Plc N2.88,Lafarge Cement WAPCO Nigeria Plc N2.72,Cement Company of Northern Nigeria Plc N2.26, Nigerian Breweries Plc N1.82, Glaxo SmithKline Consumer Nigeria Plc N1.80, Ashaka Cement Plc N1.42, among others

On the contrary, 42 stocks appreciated in price during the week, lower than 64 recorded in the preceding week. Nestle Nigeria Plc led recorded the highest share price gain, rising by N24.50 to close at N314.00 per share, Mobil Oil Nigeria Plc followed with a gain of N23.42 to close at N174.86 per share and Guinness Nigeria Plc garnered N10.12 to close at N165.11 per share.
Other price gainers’ include: Conoil Plc N7.63, Julius Berger Nigeria Plc N6.53, Seven-Up Bottling Conmpany Plc N6.02, Oando Plc N5.49, Cadbury Nigeria Plc N3.18,Unilever Nigeria Plc N2.01, Benue Cement Company Plc N1.92,  among others.

A turnover of 3.36 billion shares valued at N35.81 billion was recorded in the week under review in 52,110 deals, in contrast to the previous week’s turnover of 3.71 billion shares valued at N25.73 billion in 61,124 deals.

The Banking sub-sector emerged the most active during in the sectorial analysis accounting for a turnover of 1.704 billion shares valued at  N22.587 billion in 23,269 deals. First Bank of Nigeria Plc enjoyed the most patronage, trading 565. 02 million shares valued at N9.540 billion in 5,211 deals, followed by Guaranty Trust Bank Plc with the exchange of 186.76 million shares valued at N3.984 billion in 3,705 deals and United Bank for Africa Plc with the exchange of 178.41 million shares valued at N2.813 billion in 2,159 deals.

The Insurance sub-sector trailed the banking sub-sector accounting for a turnover of 619.57 million shares valued at N669.3 million in 4,057 deals. AIICO Insurance Plc emerged the most active in the sub-sector, trading 78.74 million shares valued at N132.48 million in 589 deals, followed by International Energy Insurance Plc, with the exchange of 57.89 million shares valued at N41.90 million in 292 deals and Lasaco Assurance Plc recorded 53.01 million shares valued at N30.16 million in 325 deals.


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