Market Review
Monday 08
Activity still low
Activity remained low as the volume of business dwindled to 361.3 million
shares valuing N3.4 billion executed in 8,464 deals. Prices went lower as
trading resumed for the week on the Lagos floor of the Nigerian Stock Exchange
(NSE) on Monday, causing the market index to shrink by 0.4 per cent
At the close of business, out of 75 stocks that moved their prices, only 17
made the gainers' chart while the rest 58 crash. This caused the All Share
Index to come down to 49,412.21 points from 49,615.55 points with which it
opened for business. The capitalization of the equities remained at N10.39
trillion. The banking sub-sector topped the activity chart as its investors
bartered 113.2 million shares valuing N260.5 million in 1,631 deals to keep
the insurance sub-sector second.
The stocks of the underwriting firms pooled 113 million units worth N260.5
million in 1,631 deals. On the losers' chart, Chevron was down by 426 kobo
to close at N422.68 per share. Mobil, Flourmill, NB and Zenith Bank fell by
355 kobo, 67 kobo, 46 kobo and 40 kobo to close at N352.14, N66.94.N48.57
and N39.75 respectively. Cadbury, First Bank and Ashaka Cement were down by
35 kobo, 32 kobo and 30 kobo to dose at N34.80.N31.88 and N29.80 respectively.
The rest in the top 10 category were UBA and Intercontinental Bank with 29
kobo and 28 kobo to close at N2922 and N28.39 respectively. On the gainers'
chart, Oando topped the group as its price rose by 750 kobo to close at N157.50per
share.
Tuesday 09
Index loses 1.06 per cent
The NSE's All-Share Index has also lost 1.06 per cent, from 49,896.65 recorded
last Thursday, to 49,263.87 on Tuesday, fuelling the stock market lull, which
again began last Friday, as the market capitalisation of the 319 listed equities
fell by N3l billion or 0.3 per cent to close at N10..318trillion, from N10..349rnillion
on Monday.
The All-Share Index of the Nigerian Stock Exchange also declined by 0.3 per
cent from 49,412.21 to 49,263.87.
This has brought the losses incurred to a total of N109billion or 1.04 per
cent from N10.427trillionn recorded last Thursday. Meanwhile, investors staked
N3.112billion on 295.140 million shares in 11,540 deals on Tuesday, compared
with 361.324 million shares, worth N3.386billion exchanged the previous day
in 8,464 transactions.
The insurance sub-sector led on the sectorial chart, trading 95.710 million
shares, valued at N183m in 1,803 deals. It represented 32 per cent of the
total volume traded on Tuesday. Activities in the sub-sector were boosted
by the shares of Lasaco Assurance Plc and Investment and Allied Assurance
Plc.
Oando Plc led the price gainers' chart with an appreciation of N7.87 to close
at N165.37 per share, while Chevron Oil Nigeria Plc recorded the highest price
loss, shedding N4.22 to close at N418.46 per share.
Wednesday10
Market cap loses N37b
THE market capitalization of the listed equities closed lower sliding by N37billion
or 0.4per cent down from N10.32trillion on Tuesday to N10.3trillion, the All
Share Index also decreased by 0.4per cent from 49,263.87 to 49,086.89.
The banking sub-sector continued its lead on the activity chart, accounting
for 80 per cent of total turnover. The sub-sector traded 480.613 million shares,
valued at N11.681bn in 3,885 deals. Activities in the shares of Afribank Nigeria
Plc boosted volume in the sub-sector as it accounted for 79 per cent of turnover
and 62 per cent of total volume traded.
The insurance sub-sector followed on the activity chart, trading 54.093 million
shares, valued at N124.419million in 1,193 deals.
In all, investors staked N12.937bn on 604.557 million shares in 8,070 transactions,
compared with a total of 295.140 million shares, valued at N3.112bn, traded
on Tuesday in 11,540 transactions.
As in the preceding day, the shares of Oando Nigeria Plc and Afribank Nigeria
Plc led on the gainers' chart, appreciating by N8.26 and N1.19 respectively
to close at Nl73.63 and N27.95 per share.
On the other hand, Chevron Oil Nigeria Plc and Nestle Nigeria Plc shed N4.18
and N2.30 to close N414.28 and N227.70 per share.
Thursday 11
Banks lead trading
The banks continued to dominate trading activities in the capital market,
accounting for 71 per cent of total volume traded on Thursday. A total of
623.211 million bank stocks, worth N16.771billion were exchanged by investors
in 4,371 deals.
Trading in the sub-sector was boosted largely by the shares of Afribank Nigeria
Plc, which represented 92 per cent of the sub-sector's volume. The market
continued on a bearish trend as capitalisation of the 320 listed equities
declined further by N28billion or 0.3 per cent from N10.281trillion the previous
day toN10.253trillion.
Similarly, the NSE's All-Share Index dropped by 0.4 per cent to 48,913.35,
up from 49,086.89 recorded the previous day.
FRIDAY 12
Seven stocks appreciate
Only seven stocks of the 71 equities that investors traded in appreciated
in value while 64 stocks depreciated in price. Conoil Plc led the seven with
N4.46, after it opened at N89.36 and closed at N93.82. It was followed by
Afribank Nigeria Plc which gained N1.46, when it opened at N29.34 and closed
at N30.80. Oando Plc led the losers with a loss of N1.71. It opened at N171.91
and closed at N170.20.
Investors staked N12.8 billion on 507.4million shares in 7,295deals. The market
capitalization closed lower at N10.22, while the All Share Index also closed
lower at 48, 738.15points.
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