NSE market capitalization dips by 2.87%

From Ngozi Onyeakusi, Lagos

After weeks of gains taking at Nigeria Stock Exchange (NSE), transaction at the market last week recorded depreciations as the twin market indicators ended red.
Specifically, the NSE All-Share Index depreciated by 2.93% to close at at 43,773.76 basis points from 45,092.83 basis points it opened with while the Market Capitalization equally decreased by 2.87% to closed at N15.692 trillion from N16.154trillion recorded the previous week.
Similarly, all other indices finished lower during the week with the exception of the NSE Consumer Goods and NSE Oil/Gas Indices that appreciated by 2.15% and 0.08% respectively while the NSE
Meanwhile, a total turnover of 7.157 billion shares worth N42.545 billion in 39,037 deals were traded by investors in contrast to a total of 5.011 billion shares valued at
N45.816 billion that exchanged hands in 44,569 deals the previous week.
The Conglomerates Industry (measured by volume) led the activity chart with 4.110 billion shares valued at N10,016 billion traded in 2,454 deals; thus contributing 57.43% and 23.54% to the total equity turnover volume and value respectively.
The Financial Services Industry followed with 2.757 billion shares worth N25.398 billion in 25,853 deals. The third place was occupied by Consumer Goods Industry with a turnover of 156.224 million shares worth N5.304 billion in 5,875 deals.
Trading in the Top Three Equities namely – Transnational Corporation of Nigeria Plc, FCMB Group Plc and Skye Bank Plc (measured by volume) accounted for 4.786 billion shares worth N11.341 billion in 5,216 deals, contributing 66.86% and 26.66% to the total equity turnover volume and value respectively.
Review of activity in the market showed that Thirty (30) equities appreciated in price during the week, lower than forty (40) of the previous week, while Forty-four (44) equities depreciated in price, higher than thirty-two (32) equities of the previous week, while ninety-eight (98) equities remained unchanged lower than one hundred (100) equities recorded in the preceding week.
Wapic Insurance Plc led gainers table during the week, gaining 10.91 or N0.06 kobo to close at N0.61 kobo, Dangote Sugar Refinery Plc followed with a gain of N9.80 per cent or N1.96 kobo while Nascon Allied Industries Plc increased by 9.63 per cent or N1.83 kobo to close at N20.83 kobo.
Other firms appreciated in price were TransNation Wide Express Plc 8.00, PZ Cusson Nigeria Plc 6.82 per cent, Nigerian Breweries Plc 6.72 per cent, UAC Property Development Company Ltd 6.67 per cent, Cutix Old 5.73 per cent, Learn Africa Plc 5.43 per cent.
Diamond Bank Plc recorded the highest loss for the week, shedding 26.05 per cent or N0.98 kobo to close at N2.64 kobo, Champion Breweries trailed with a loss of 20.69 per cent or N0.16 kobo to close at N2.53 kobo while Transnational Corporation of Nigeria fell by 18.00 per cent or N0.45 kobo to close at N2.05 kobo.
Other companies depreciated in price were Sterling Bank 16.59 per cent, Honey Well Flour Mills Nigeria Plc down by 15.51 per cent, NPF Microfinance Bank Plc 13.45 per cent, FCMB group 12.32 per cent, Also Mansard Insurance Plc 4.22, Guaranty Trust Bank ( GTBank) 10.44 and Eterna Plc 9.60 per cent.
Also traded during the week were a total of 153,755 units of Exchange Traded Products (ETPs) valued at N1.883 million executed in 11 deals, compared with a total of 1.947 million units valued at N105.567 million that was transacted last week in 15 deals.
A total of 6,715 units of Federal Government Bonds valued at N5.318 million were traded this week in 15 deals, compared with a total of 4,437 units valued at N4.260 million transacted last week in 9 deals.