Market capitalization dips by 2.32%
From NGOZI Onyeakusi, Lagos
Heavy invest loses last week greeted stocks quoted the Nigeria Stock Exchange (NSE) this leading the twin market indicators end lower.
Specifically, the NSE All-Share Index depreciated by 2.32% to close at 26,251.39 basis points from 26,874.62 basis points it opened with while the Market Capitalization of listed equities as well decreased by 2.32% to close at 9.032 trillion from N9.247 trillion recorded the previous week.
Meanwhile, it was a brief trading week as the Federal Government of Nigeria declared Monday of 2nd January, 2017 as Public Holiday for the New Year celebration.
Review of activity in the market showed that a total turnover of 4.319 billion shares worth N7.376 billion in 9,330 deals were traded by investors in contrast to a total of 405.939 million shares valued at N3.724 billion that exchanged hands in 6,363 deals the previous week.
The Financial Services Industry (measured by volume) led the activity chart with 4.177 billion shares valued at N5.306 billion traded in 5,047 deals; thus contributing 96.71% and 71.94% to the total equity turnover volume and value respectively. The Oil And Gas Industry followed with 65.827 million shares worth N594.522 million in 1,385 deals. The third place was occupied by Conglomerates Industry with a turnover of 26.487 million shares worth N48.163 million in 299 deals.
Trading in the Top Three Equities namely – Unity Kapital Assurance Plc, Omoluabi Savings and Loans Plc and FCMB Group Plc (measured by volume) accounted for 3.863 billion shares worth N3.013 billion in 286 deals, contributing 89.45% and 40.85% to the total equity turnover volume and value respectively.
The Nigerian Stock Exchange (NSE) All Share Index ASI closed lower for the week, shedding 623.23 basis points to 26251.39 points from 26874.62 traded the previous day. NSE Premium dropped by 54.05 to 1641.46, The NSE Main Board index shed 21.40 to 1182.39, NSE ASeM Index went down by 19.92 basis points to 1,169.77, NSE 30 index declined by 24.52 to 1,170.68 points, NSE Banking index fell by 4.31 basis points to 270.01. NSE Insurance index down by 0.21 to 126.08 , NSE Consumer Goods Index dipped by 16.24 to 696.41, NSE Oil and Gas Index 5.13 basis points to 307.55, NSE Lotus II 41.22 bsis points to 1800.37, NSE Industrial Goods index 48.14 basis points to 1547.19 points and NSE Pension Index depreciated by 1.93 per cent to 808.11 points.
Further review of activity in the market showed that Eighteen (18) equities appreciated in price during the week, lower than thirty-seven (37) equities of the previous week. Thirty-one (31) equities depreciated in price, higher than twenty-one (21) equities of the previous week, while one hundred and twenty-six (126) equities remained unchanged higher than one hundred and seventeen (117) equities recorded in the preceding week.
UAC Property Development Co. Plc led gainers table for the week, increasing by 34.50 per cent or N0.38 kobo to close at N3.00, United Capital Plc followed with a gain of 10.62 per cent or N0.29 kobo to close at N3.02 kobo, while Access Bank grew by 6.68 per cent or N0.41 kobo to close at N6.28 kobo. Other companies appreciated in price were Eterna Plc 6.45 per cent, FCMB Group Plc 6.36 per cent, Unity Bank 5.45 per cent, FBNHoldings Plc 4.48 per cent, United Bank for Africa Plc 4.00 per centt, Fidson Healthcare Plc 3.91 per cent and Cap Plc 3.13 per cent.
On the other hand, National Aviation Handling Company Plc recorded the highest loss for the week, decreasing by 13.92 per cent or N6.44 kobo to close at N2.72 kobo, Cement Company for Northern Nigeria trailed with a loss of 13.40 per cent or N0.67 kobo to close at N4.33 kobo. N.E.M Insurance Co Nigeria Plc fell by 9.52 per cent or N0.10 kobo to close at N0.95 kobo. Other firms depreciated in price were Sterling Bank 6.45 per cent, Cadbury Nigeria Plc 6.36 per cent, Union Bank of Nigeria Plc 5.45 per cent, Mobil Oil Nigeria Plc 4.48 per cent, Dangote Flour mills Plc 4.00 per cent, Ashaka Cement Plc 3.91 per cent and Custodian and Allied Plc 3.13 per cent.
Also traded during the week were a total of 55 units of Exchange Traded Products (ETPs) valued at N505.65 executed in 11 deals, compared with a total of 9,965 units valued at N56,446.35 transacted last week in 16 deals.
A total of 5,100 units of Federal Government Bonds valued at N5.120 million were traded this week in 2 deals, as against no bond transaction last week.