The Nigerian Stock Exchange (NSE) lost N114bn at the end of this week trading.
The index movement the NSE All-Share Index depreciated 333.68 basis points while market capitalization also depreciated N114 billion represented 1.14 per cent to close the week at 28,841.67 and N9.915 trillion respectively.
Transaction level by volume and value of trades recorded an improvement of 1 per cent and 53 per cent respectively, relative to last week’s trading levels. In the week under review, a turnover of 2.569 billion shares worth N16.874 billion in 17,463 deals were traded by investors on the floor of the exchange in contrast to a total of 1.949 billion shares valued at N17.336 billion that exchanged hands last week in 15,762 deals.
Although it may be too early to say the inauguration of the Ministers of the Federal Republic of Nigeria and their portfolios being made public seems to have given investors a jolt to take advantage of currently attractive valuations.
As the general market remains unstable on investors low risk appetite, analysts advised cautious trading and accumulation of undervalued symbols in tranches to dilute exposures.
Large capitalized stocks pull back the Market index on Monday as the market loses 3 basis points. Although market breadth settled at higher point as 25 stocks appreciated against 15 depreciating stocks. The NSE All Share Index still managed to close negative.
The index lost a measly 3 basis I points on the back of losses within the three largest market capitalized stocks like Dangote Cement, Nigerian Breweries and Guaranty Trust Bank. These losses occurred alongside a 139.9 per cent increase in the value traded which went from N6.119 billion to N14.677 billion as the number of trade made stayed relatively the same.
Industrial Goods sector was affected mainly by the loss recorded in Dangote Cement, although decline in Lafarge Africa further contributed to the sector loss. The Consumer Goods sector daily return was flat as Unilever Nigeria and PZ made up for the losses in Nigerian Breweries and 7UP Bottling Company. The Financial services and Oil and Gas sectors were the only sectors with positive daily returns on the back of gains in UBA, FBN Holdings and Oando.
On Tuesday, the Nigerian equities market continues its downward trend on end of trading session sell pressure. The bourse dipped by 0.64 per cent to bring the share index down from its 29,000 region. The index and market capitalization closed lower at 29,981.12 points and N9.963 trillion respectively. The market breadth reverses to the bear’s camp with 25 symbols in red against 18 gainers.
Volume and value of trades declined by 68.85 per cent and 87.64 per cent respectively from their previous trading levels. Transactions in the shares of Equity Assurance, UBA, Transnational Corporation of Nigeria, Access Bank and Zenith Bank topped the chart as most traded equities by volume.
The NSE All Share Index and all sector indices closed in red save for NSE Insurance, NSE Lotus Islamic Index and NSE Industrial with daily gains of 0.13 per cent, 0.82 per cent and 0.38 per cent respectively.
The NSE All Share Index bounced back from its downward trend on Wednesday to gain 12 basis I points on the back of price appreciation within Forte Oil and a majority of the tier 1 banks, closing at 29,014.8 points. Market activity saw volume traded decrease by 31.5 per cent to 217.3 million units as value traded declined 19.3 per cent to N1.4 billion, market capitalization also increased by a fractional N11.6 million. Market breadth settled low as 12 stock prices advanced while 25 stock prices declined.
Mixed market sentiments continue within the equity markets as the Financial Services and Consumer Goods sectors had positive daily returns; on the back of Access Bank, Zenith Bank, Guaranty Trust Bank and Nigerian Breweries. Oil and Gas alongside the Industrial Goods sector both had negative daily returns as Oando and Ashaka Cement depreciated in price. Forte Oil, Nestle Nigeria, Guinness Nigeria bucked the trends within their sectors.
The equities market rebuffs further gains to bring the index down to 28,000 regions on Thursday. The bourse shed 0.74 per cent to drag the negative year-to-date performance to 16.90 per cent. The index and market capitalization closed lower at 28,798.67 and N9.899 trillion respectively. The market breadth remains in the bear’s camp with 26 symbols in red against 12 gainers.
Volume and value of trades declined by 23.02 per cent and 10.66 per cent respectively from their previous trading levels. Transactions in the shares of Zenith Bank, NASCON, Guaranty Trust Bank, Skye Bank and Access Bank topped the chart as most traded equities by volume.
The NSE All Share Index and all sector indices closed in red save for NSE Oil & Gas with daily gains of 0.06 per cent.
The local bourse bounced back as it recorded gains on Friday session closing at 28,841.67 points, gaining 15 basis points. This can be attributed to gains in 5 out 6 tier one banks. Market capitalization gained a mere circa N15 million as market activity as a whole showed positive sentiments. The volume and value traded increased by 41.6 per cent and 218.5 per cent closing at 236.9 million units and N4.2 billion respectively.
However the number of trades decreased to 2,501 as the market gained on the back on bargain positioning on many large cap stocks.
The sectors showed mixed performances as the Financial Services and Oil and Gas sector saw 0.5 per cent daily returns whereas as the Consumer and Industrial Goods sector declined by 0.1 per cent each. Gains in Ecobank Transnational Incorporation, UBA, Access Bank, FBN Holdings and Guaranty Trust Bank drove the financial services sector while positive momentum in Oando 0.1 per cent and Seplat 0.9 per cent buoyed the Oil and Gas sector. Although PZ gained 4 per cent, losses in Guinness and Nigerian Breweries drove the negativity in the Consumer sector while bearish bias in Dangote Cement weighed on the Industrial sector.
Summary of price changes 29 equities appreciated in price during the week, higher than 24 equities of the preceding week. Thirty-Eight equities depreciated in price, lower than 43 equities of the preceding week, while 123 equities remained unchanged, same as preceding week.
Unilever Nigeria Plc led gainers chart with 4.95 per cent per share to close at N36.38 kobo, followed by CAP Plc with 2.95 per cent to close at N40.95 kobo, P. Z. Industries Plc with 1.68 per cent to close at N26.00 kobo, UACN Property Development Co. Plc with 0.67 per cent to close at N7.28 per share and Ikeja Hotel Plc with 0.27 per cent to close at N3.47 kobo per share.
Others on the chart are, Access Bank Plc with 0.23 per cent to close at N4.70 kobo, Dangote Flour Mills Plc with 0.22 per cent to close at N2.53 kobo, Eterna Plc with 0.20 per cent to close at N1.81 kobo, Fidson Healthcare Plc with 0.19 per cent to close at N3.00 kobo, and Flour Mills of Nigeria Plc with 0.10 per cent to close at N21.99 kobo.
On the other hand 7-Up Bottling Company Plc led on the losers table with 10.91 per cent loss to close at N180.10 kobo, Large Africa Plc lost 4.00 per cent to close at N90.00 kobo, Nestle Foods Nigeria Plc with 4.00 per cent to close at N810.00 kobo, Seplat Petroleum Development Company Plc with 3.04 per cent to close at N227.00 kobo per share Cadbury Nigeria Plc with 1.00 per cent to close at N19.10 kobo.
Others on the chart are, Ecobank Transnational Incorporated Plc with 0.90 per cent to close at N17.60 kobo, Zenith Bank Plc with 0.71 per cent to close at N17.00 kobo, UAC of Nigeria Plc with 0.63 per cent to close at N27.10 kobo, Ashaka Cement Plc with 0.49 per cent to close at N22.01 kobo per share and National Aviation Handling Company Plc with 0.37 per cent loss to end the week with N4.00 kobo per share.