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Investors lose N153bn on NSE in one week

By on July 17, 2011

Investors’ agony continued last week, as the value of their investment on the Nigerian Stock Exchange, NSE, dipped last week by N152.8 billion.

Investment value, represented by the market capitalization, dipped by 1.97 per cent or N152.8 billion to close at N7.620 trillion from N7.773 trillion at which it opened the week.

The All-share index also dipped by 1.97 per cent, to close at 23,832.14 points, from its 24,310.03 points.

Chemical and Allied Products Plc led 48 other stocks on the price losers’ table, during the week, lower than the 51 of the preceding week, dropping by N5.22 or 15.30 per cent to close at N29.00 per share, Julius Berger Nigeria Plc followed with a loss of N2.71or 4.82 per cent to close at N53.49 per share and Flour Mills of Nigeria Plc dropped by N2.66 or 3.20 per cent to close at N81.52 per share.

Other share price losers include: Larfarge WAPCO Plc N2.35, PZ Cussons Nigeria Plc N2.30, Unilever Nigeria Plc N2.00, Oando Plc N1.99, Guinness Nigeria Plc N1.99,

Cadbury Nigeria Plc N1.50, Ashaka Cement Plc N1.32, among others.

On the contrary, Nigerian Breweries Plc led on the gainers’ table with a gain of N4.00 or 4.5 per cent to close at N92.00 per share, Nestle Nigeria Plc followed with a gain of N1.99 or 0.5 per cent to close at N402.00 per share and Capital Hotel Plc garnered N1.20 or 26.97 per cent to close at N5.65 per share.

Other share price gainers’ include: Okomu Oil Palm Plc N0.45, Costain West Arica Plc N0.23, UACN Property Development Company Plc N0.15, Guaranty Trust Assurance Plc N0.12, Prestige Assurance Company Plc N0.08, RT Briscoe Nigeria Plc N0.08, Wema Bank Plc N0.07, among others.

The declining trend continued in equity trading, as a turnover of 937.875 million shares valued at N7.58 billion was recorded in 26,528 deals, dropping by 44.33 per cent from the previous week’s turnover of 1.685 million shares valued at N12.7 billion in 29,688 deals.

The Banking sub-sector recorded the highest transaction in the sectorial analysis in the week under review, accounting for 620.12 million shares valued at N4.567 billion in 14,800 deals.

GTBank Plc dominated transaction in the sub-sector, trading 87.92 million shares valued at N1.24 billion in 2,902 deals, Zenith Bank Plc followed with the exchange of 81.55 million shares valued at N1.15 billion in 1,487 deals and Access Bank Plc recorded 68.31 million shares valued at N435.46 million in 848 deals.

The Insurance sub-sector followed on the sectorial analysis, accounting for 13.93 per cent of the market turnover, with 130.68 million shares valued at N135.04 million in 1,483 deals.

Custodian and Allied Insurance Plc recorded the highest transaction in the sub-sector, trading 17.11 million shares valued at N49.19 million in 58 deals, Guaranty Trust Assurance Plc followed with the exchange of 16.99 million shares valued at N25.69 million in 83 deals and Continental Reinsurance Plc recorded 16.08 million shares valued at N17.08 million in 46 deals.

However, the NSE-30 Index, used in measuring the performance of blue chip in the market depreciated by 22.52 points or 2.1 per cent to close at 1,060.49. All four sectorial indices depreciated during the week same as the preceding week.

The NSE Food & Beverage Index depreciated by 17.58 points or 2.21 per cent to close at 784.53, the NSE Banking Index depreciated by 17.35 points or 4.8 per cent to close at 347.26, the NSE Insurance Index depreciated by 1.85 points or 1.15 per cent to close at 158.20 and the NSE Oil & Gas Index depreciated by 5.26 points or 1.80 per cent to close at 287.62 points.

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