By Peter Egwuatu
Investors in the nation’s stock market, last week lost N68 billion of their investment in stocks as the Nigerian Stock Exchange, NSE market capitalisation dropped from N9.496 trillion the previous week to close last Friday at N9.428 trillion.
In the same manner, the NSE All share index dropped by 0.72 per cent or 361.15 points to close at 27,450.91 points from 27,812.06 points it opened last week Monday.
Other performance indicators showed that the NSE Main Board ,NSE 30, NSE Banking, NSE Insurance, NSE Consumer Goods, NSE Oil and Gas and NSE Pension indices rose by 1.93 per cent ,0.33 per cent ,0.86 per cent ,0.04 per cent , 0.93 per cent , 6.74 per cent and 1.21 per cent respectively while the NSE ASeM Index closed flat.
Market operators attributed the decline in the performance indicators to strong market volatility as some of the highly capitalised companies were offloaded and led to higher price depreciation against the gains.
Meanwhile, a turnover of 1.124 billion shares worth N13.839 billion in 15,625 deals were traded last week by investors on the floor of the exchange in contrast to a total of 1.375 billion shares valued at N12.940 billion that exchanged hands penultimate week in 16,915 deals.
The Financial Services Industry (measured by volume) led the activity chart with 922.145 million shares valued at N7.739 billion traded in 9,612 deals; thus contributing 82.07 per cent and 55.92 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 113.395 million shares worth N4.680 billion in 2,689 deals.
The third place was occupied by the Conglomerates Industry with a turnover of 42.988 million shares worth N60.763 million in 610 deals. Trading in the Top Three Equities namely – Guaranty Trust Bank Plc, FBN Holdings Plc and Diamond Bank Plc(measured by volume) accounted for 434.979 million shares worth N5.236 billion in 3,490 deals, contributing 38.71 per cent and 37.84 per cent to the total equity turnover volume and value respectively.
Also traded during the week under review were a total of 16,397 units of Exchange Traded Products (ETPs) valued at N1.961 million executed in 37 deals, compared with a total of 57,828 units valued at N766.162.96 transacted last week in 37 deals.
A total of 1,650 units of Federal Government Bonds valued at N1.690 million were traded in 3 deals compared to a total of 3,127 units of Federal Government Bonds valued at N3.057 million transacted last week in 6 deals. Twenty-seven (27) equities appreciated in price during the week under review, higher than twenty-five (25) equities of the penultimate week.
Twenty-five (25) equities depreciated in price, lower than thirty-nine (39) equities of the penultimate week, while one hundred and twenty-eight (128) equities remained unchanged higher than one hundred and sixteen (116) equities recorded in the penultimate week.