Investors lose N17bn as bears continue rampage

Investors lose N17bn as bears continue rampage

Investors in the Nigerian Stock Exchange, NSE, last week lost N17 billion as bears continue to tighten grip in the market. At the close of trading session on Friday, the market capitalisation of all listed equities, which opened at N9.910 trillion fell to N9.893 trillion, represnting 0.17 per cent decline. Also, the second performance measurement indicator, the All Share Index, ASI, fell to 28,805.45 points from the opening figure of 28,854.98 points, indicating 0.17 per cent decline.

Sectoral analysis showed mixed performance during the week, with the exception of NSE ASeM sector that closed flat. The insurance sector declined the most, recording negative 1.80 per cent return, followed by the Oil and gas sector with -1.31 per cent return, while the banking sector closed lower at -0.20 per cent. However, the NSE Premium index, NSE 30 Index, NSE consumer goods index and the NSE industrial goods Index that gained 0.11 per cent, 0.17 per cent, 0.95 per cent and 1.46 per cent in that order.

Gainers and losers

22 equities appreciated in price during the week, higher than nine of the previous week, while 38 equities depreciated in price, lower than 48 equities of the previous week. 120 equities remained unchanged lower than 123 equities in the previous week. Skye Bank Plc led the losers, depreciating by 31.03 per cent to close at N0.60, followed by NPF Microfinance Bank with 21.01 per cent price drop to close at N0.94. Transnationwide Express was down 18.55 per cent to close at N1.01; Oando slumped by 14.53 per cent to close at N6.88, while GlaxoSmithKline, which closed as the last on the five top losers list went down by 13.14 per cent to close at N18.05.

On the other hand, Honeywell FlourMills Plc led the gainers with 14.79 per cent increase to close at N1.63, followed by United Capital Plc, which rose by 7.69 per cent to close at N2.66 and Zenith Bank Plc that chalked up by 6.02 per cent to close at N16.38 per share. Livestock Feeds Plc rose by 4.90 per cent to close at N1.07, while Forte Oil Plc appreciated by 4.87 per cent to close at N180.28 per share.

Market breath

At the end of the week, a turnover of 1.149 billion shares worth N13.616 billion were exchanged in 21,868 deals in contrast to a total of 377.798 million shares valued at N3.641 billion that exchanged hands the previous week in 7,466 deals.

VANGUARD