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Market cap loses N97billion in 7 days

By on September 16, 2013

Trading activities on the floor of the Nigerian Stock Exchange, NSE, witnessed a bearish transaction last week, as all indicators recorded significant depreciation at the close of market on Friday.

The market capitalisation of the listed equities on the main board decreased by 0.84 percent or N97billon from N11.591 trillion as at the close of trading on Friday, 6th September, 2013 to close at N11.494 trillion last Friday.

Similarly, the NSE’s All-Share Index, ALSI, depreciated by 0.84 percent or 305.89 basis points to close at 36,098.06 points from 36,403.95 points recorded the previous week.

A turnover of 1.071 billion shares worth N13.139 billion in 23,190 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.138 billion shares valued at N14.130 billion that exchanged hands in 24,122 deals the previous week.

The Financial Services sector (measured by volume) led the activity chart last week with 770.434 million shares valued at N5.609 billion traded in 13,088 deals; thus contributing 71.92%, 42.69% and 56.44% to the total equity turnover volume, value and number of deals respectively.

The consumer goods sector followed with a turnover of 107.419 million shares worth N4.143 billion in 4,462 deals, contributing 10.03%, 31.53% and 19.24% to the total equity turnover volume, value and number of deals respectively.

The conglomerates sector came third with 78.913 million shares worth N347.945 million in 970 deals.

Trading in the top three equities namely Unity Bank Plc, Transnational Corporation of Nigeria Plc, and Guaranty Trust Bank Plc (measured by volume) accounted for 223.499 million shares worth N1.977 billion in 2,748 deals, contributing 20.86%, 15.05% and 11.85% to the total equity turnover volume, value and deals respectively, in the last week.

Traded during last week were 120 units of NewGold Exchange Traded Funds, ETFs, valued at N260,525 executed in 4 deals compared with a total of 1,372 units valued at N2.984 million transacted in 2 deals the previous week.

Also, 1,600 units of FGN bonds valued at N1.765 million were traded last week in 5 deals in contrast to 1,800 units valued at N2.022 million transacted the previous week in 10 deals.

During last week transactions, the NSE 30 Index shed 0.66% to close at 1,686.49.

Other NSE indices also depreciated during the week: NSE Consumer Goods, NSE Banking Index, NSE Insurance, NSE Oil/Gas, NSE Lotus II and NSE Industrial Goods decreased by 0.73%, 0.81%, 2.96%, 0.64%, 0.13% and 0.74% respectively.

However, the NSE-ASeM closed flat.

Thirty-three (33) equities appreciated in prices during the week lower than thirty eight (38) equities of the preceding week.

However, Forty(40) equities depreciated in prices lower than forty three (43) equities of the preceding week, while one hundred and twenty one (121) equities remained unchanged higher than one hundred and thirteen (113) equities of the preceding week.

Jos International Breweries Plc topped the top ten price gainers chart last week with a price gain of N2.83k to close at N7.52k per share.

Vono Products Plc was second with a price gain of N0.55k to close at N1.94k per share.

It was followed by Portland Paints & Products Nigeria Plc which recorded a price gain of N0.94k to close at N5.45k per share.

IHS Plc came fourth with a price gain of N0.51k to close at N3.31k per share while Couteville Business Solutions Plc was fifth with a price gain of N0.08k to close at N0.72k per share.

Others on the chart are: Ikeja Hotel Plc, Learn Africa Plc, Premier Breweries Plc, NPF Microfinance Bank Plc and Abbey Building Society Plc.

On the losers end, International Energy Insurance Company Plc was at the front with a price loss of N0.20k to close at N0.63k per share.

It was followed by Multi-Trex Integrated Foods Plc which shed N0.11k in its share price to close at N0.52k per share.

Vitafoam Nig. Plc was third with a price loss of N0.67k to close at N3.74k per share while May & Baker Nigeria Plc was fourth with a price loss of N0.26k to close at N2.04k per share.

In the fifth position was Custodian and Allied Insurance Plc which recorded a loss of N0.16k in its share price to close at N1.34k per share.

Others on the chart are: Northern Nigeria Flour Mills Plc, Evans Medical Plc, Continental Re-insurance Plc, Honeywell Flour Mill Plc and Neimeth International Pharmaceuticals Plc.