NSE: Investors decry low returns on equities

From Ngozi Onyeakusi, Lagos

Heavy investment losses last week greeted equites quoted at the nation’s bourse as the twin market indicators declined significantly.
Specifically, the NSE All-Share Index depreciated by 0.28% to close at 40,814.89 basis points from 40,928.70 basis points it opened with while Market Capitalization of listed equities decreased by 0.28% to close at N14.743 trillion from N14.784 trillion recorded the previous week.
Similarly, all other indices finished lower with the exception of NSE CG, NSE Premium, NSE-Main Board, NSE 30, NSE Banking, NSE Oil/Gas, and NSE Pension indices, which appreciated by 1.08%, 1.38%, 0.54%, 0.13%, 2.34%, 0.73% and 1.42% respectively.
Meanwhile, a total turnover of 3.008 billion shares worth N30.296 billion in 24,036 deals were traded by investors in contrast to a total of 1.415 billion shares valued at N19.644 billion that exchanged hands in 20,659 deals the previous week.
The Financial Services Industry (measured by volume) led the activity chart with 2.539 billion shares valued at N23.510 billion traded in 13,179 deals; thus contributing 84.43% and 77.60% to the total equity turnover volume and value respectively. The Oil and Gas Industry followed with 273.443 million shares worth N2.358 billion in 3,735 deals. The third place was occupied by Consumer Goods Industry with a turnover of 60.840 million shares worth N2.654 billion in 3,141 deals.
Trading in the Top Three Equities namely – FCMB Group Plc, United Bank for Africa Plc, and Oando Plc (measured by volume) accounted for 1.816 billion shares worth N9.599 billion in 3,851 deals, contributing 60.37% and 31.69% to the total equity turnover volume and value respectively.
Review of activity in the market showed that Thirty-six (36) equities appreciated in price during the week, lower than thirty-seven (37) in the previous week. Thirty-three (33) equities depreciated in price, lower than thirty-eight (38) equities of the previous week, while one hundred (100) equities remained unchanged higher than ninety-four (94) equities recorded in the preceding week.
Oando Plc led gainers table for the week, growing by 39.13 per cent or N2.70 kobo to close at N9.60 kobo. Jaiz Bank followed with a gain of 21.13 per cent or N0.15 kobo to close at N0.86 kobo while Skye Bank Plc appreciated by 18.75 per cent or N0.15 kobo to close at N0.95 kobo. Other companies appreciated in price were Julius Berger Nigeria Plc 14.89 per cent, Unity Bank Plc 14.41 per cent, Northern Nigeria Flour Mills Plc 9.60 per cent, NEM Insurance Company Nigeria Plc 9.17, Regency Alliance Insurance Company Plc added 7.14 per cent, Eterna oil increased by 6.02 per cent Ecobank Transnational Incorporated gained 5 98 per cent
On the other hand, AG Leventis Nigeria Plc topped losers chart, declining by 14.06 per cent or N0.09 kobo to close at N0.55 kobo, II Plc trailed with a loss of 14.00 or N28.00 to to N172.00, Mutual Benefits Assurance down by 12.12 per cent or N0.40 kobo to close at N29.00. Other companies depreciated in price were Niger Insurance Company Plc which recorded 8.82 percent. Presco Plc 8.33 per cent UAC of Nigeria property Development Company 7.86 , Livestock Feeds Plc 7.55, Continental Reinsurance plc 7.41 per cent, Nascon Allied Industries Plc 7 81 per cent .
Also traded during the week were a total of 177,144 units of Exchange Traded Products (ETPs) valued at N2.809 million executed in 6 deals, compared with a total of 616,587 units valued at N9.185 million that was transacted last week in 21 deals.
A total of 13,735 units of Federal Government Bonds valued at N14.128 million were traded this week in 16 deals, compared with a total of 2,500 units valued at N2.367 million transacted last week in 10 deals.