Providence Obuh
Eguities value on the Nigerian Stock Exchange (NSE)dropped by 59.2 per cent as a turnover of 591.85 million shares worth N5 billion in 17,660 deals was recorded this week, in contrast to a total of 1.44 billion shares valued at N11.95 billion exchanged last week in 32,967 deals.

The stock market opened for three days as Thursday and Friday were declared public holidays in commemoration of Id-el-Fitri.

There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

The Banking sub-sector was the most active during the week (measured by turnover volume),
with 304 million shares worth N2.23 billion exchanged by investors in 9,650 deals. Volume in
the Banking sub-sector was largely driven by activity in the shares of Zenith Bank Plc, FinBank
Plc, Guaranty Trust Bank Pl and First Bank of Nigeria Plc. Trading in the shares of the four banks accounted for 145.8 million shares, representing 48% and 24.6% of the subsectorÆs
turnover and total volume traded during the week, respectively.

The Insurance sub-sector, boosted by activity in the shares of AIICO Insurance Plc and NEM Insurance Plc, followed on the week’s activity chart with a turnover of 79.63 million shares valued at N80.4 million in 884 deals. Last week, the Banking sub-sector led on the activity chart and was followed by the Insurance sub-sector. The NSE All-Share Index depreciated by 439.05 points or 1.82% to close on Wednesday at 23,802.79 while the market capitalization of the 199 First -Tier equities declined to N5.83 trillion.

Also, the NSE-30 Index depreciated by 16.38 points or 1.63% to close at 994.19. Last week, All Share Inde x (ASI )and NSE-30 Index depreciated by 0.13% and 0.2%, respectively. All the four sectorial indices depreciated during the week while two of them appreciated in the preceding week. The NSE Food/Beverage Index depreciated by 4.52 points or 0.6% to close at 770.54, the NSE Banking Index depreciated by 9.55 points or 2.72% to close at 344.50, the NSE Insurance Index depreciated by 2.12 points or 1.22% to close at 171.74 and the NSE Oil/Gas Index depreciated by 4.70 points or 1.3% to close at 362.52.

Twenty-seven (27) stocks appreciated in price during the week, lower than the forty-three (43) of the preceding week. 7-Up Bottling Company Plc led on the gainers table with a gain of N4.90 to close at N52.80 per share while Julius Berger Nigeria Plc followed with N3.25 to close at N55.98 per share. Other price gainersÆ in the Top 10 category include: Benue Cement Company Plc N2.50,Northern Nig. Flour Mills Plc N2.32,African Petroleum Plc – N1.45,Ashaka Cement Plc – N1.15, Guinness Nigeria Plc – N0.90,Dangote Flour Mills Plc – N0.87,Flour Mills of Nigeria Plc – N0.74, and Okomu Oil palm Plc – N0.63 Fifty-two (52) stocks depreciated in price during the week, higher than the fifty-one (51) of the preceding week. Nestle Nigeria Plc led on the price losersÆ table, dropping by N15.00 to close at N360.00 per share while Nigerian Breweries Plc followed with a loss of N3.23 to close at N69.15 per share.

Other price losers in the Top 10 category include: Oando Plc – N3.09,Lafarge Cement WAPCO Nig. Plc – N2.11, University Press Plc – N1.80,National Salt Company of Nig. Plc – N0.89, Cement Company of Nigeria Plc – N0.76, Access Bank Plc – N0.58, Zenith Bank Plc – N0.54 . And UAC of Nigeria Plc – N0.5.Two equity prices were adjusted for dividend and/or bonus as recommended by the Board of Directors. University Press Plc was adjusted for dividend of N0.40 per share and bonus of 1 for 5.