National Daily

Market Review

Monday 23
Indices down 0.9 per cent
The bears have continued to upstage the bulls on the Nigerian Stock Exchange, NSE, as share price losses incurred by virtually all the blue chip companies in the equity sectors brought down the indices further by 0.9 per cent. The All-share index of the Exchange dropped by 396.3 points or 0.7 per cent, from 54,382.21 recorded on Friday to 53, 985.96 yesterday, while market capitalisation fell by N100 billion from N10.6 trillion to N10.5 trillion.

Analysts, while describing the downward trend in the market as a "normal market trend" as obtainable in other international stock markets, expressed optimism that the market would pick up in a couple of months. On the price movement chart, 38 stocks recorded price appreciation, as Chevron Nigeria Plc led others on the gainers' chart, adding 1,535 kobo, to close at N322.47 while Total Nigeria Plc followed, adding 1,162 kobo, to close at N250.00 per share.

On the other hand, 60 stocks constituted the losers' chart yesterday with Conoil Nigeria Plc emerging the highest price loser, shedding 472 kobo, to close at N105.00. 7-Up Nigeria Plc also featured on the list, dropping 273 kobo, to close at N51.87 per share.
The banking sub-sector dominated w volume terms yesterday with 488.8 million shares valued at N9.3 billion in 8,496 deals while the insurance sub-sector followed with 273.5 million units worth N524.5 million in 2,681 deals. The banking sub-sector was boosted by activities in the shares of Intercontinental Bank Plc and Fidelity

Bank Plc, which traded 72.1 million units and 70.8 million shares valued at N2.5billion and N702.5million in 131 and 445deals while the insurance sub-sector was energised by activities in the snares of Investment and Allied Assurance Plc and Universal Insurance Plc, which traded 176.3 million shares and 13.1 million units valued at N230.9 million and Tuesday 24
Market decline further
Oando Plc tops the losers' chart as trading volumes declined sharply on Tuesday, indicating that the bearish trend lingered. Volume of traded shares, which stood at 1.009 billion the previous day, dropped by 30 per cent to 709.2million shares, at the close of trading on Tuesday. Value of equities traded slipped by N1.8billionn or 15 per cent to N10.364billionn down from N12.167billion recorded on Monday.
Investors staked N10.364billion on 709.185 million shares, in 13,593 deals, compared with 1.009 billion shares, valued at N12.169billion, traded the previous day in 17,983 transactions. Of the 90 stocks traded, 67 depreciated in price, while only 23 recorded price appreciation.

The shares of Oando Plc recorded the highest price loss for the day, shedding N9 to close at N200 per share. UACN Plc and Benue Cement Company Plc also lost N2.38 and N2.35 respectively to close at N46.62 and N47 per share. On the other hand, Platinum Habib Bank Plc led the price gainers, with a gain of N1.25 to close at N26.33 per share. Unilever Nigeria Plc and Cadbury Nigeria Plc chalked up N1.05 and 51 kobo in that order, to close at N22.05 and N31.50 per share.
The market capitalisation of the 302 listed equities slipped by N77billion or 0.7 per cent to close at N10.460trillion from N10.537trillion recorded the preceding day.

The All-Share Index closed lower by 0.7 per cent from 53,985.96 to 53,589.67.
The banking sub-sector maintained its lead on the activity chart, trading 403.472 million shares, worth N8.596bn in 7,394 deals, compared with 488.780 million shares, worth N9.345 traded the preceding day in 8,496 deals. The sub-sector accounted for 57 per cent of total volume traded. Trading in the shares of Intercontinental Bank Plc and Fidelity Bank Plc drove turnover in the sub-sector, accounting for 46 per cent of turnover.
In the insurance sub-sector, which accounted for 34 per cent of total volume traded, investors staked N484.244million on 238.663 million shares, in 1,780 deals.

Wednesday 25
Market fortunes dwindle
Sixty listed equities emerged losers as against 31 league of gamers as major indicators still took the southward movement. The twin market indicators the All-Share Index and the total market capitalisation of all listed equities declined by 0.4 per cent to close lower from their opening marks. While the Index lowered to 53.365.53 from 53,589.67. representing 224.14 points, the total market capitalisation declined to N10.41 trillion as against N10.45 trillion, representing N43 billion. CAP led the losers' pack with N3.00 decrease to close at N57.00 per share. NBC followed withN2.70 increase to close at N51.45 per share. ETI lost N2.01 to close at N38.29 per share, while Eterna Oil and Fresco depreciated by N1.47 and N1.32 to close at N28.08 and N25.26 per share respectively. Chevron led gainers with N16.12 to close at N338.59per share. Oando followed with N10.00 increase to close at N210 per share.

Thursday 26
Market records gain
The market capitalisation of the 302 listed equities increased by 0.6 per cent or N66billion from N10.416trillion recorded the preceding day to N10.482trillion. The All-Share Index of the Nigerian Stock Exchange rose by 0.6 per cent to close at 53,705.30 from 53,365.53 recorded the previous day. Investors staked N17.294billion on 983.537 million shares, in 17,112 transactions. The banking sub-sector displaced the insurance sub-sector at the top of the activity chart, trading 625.511 million shares, worth N14.972bn in 9,080 deals. It accounted for 64 per cent of turnover.
Seven-Up Bottling Company Plc led the gainers' chart, with a gain of N2.59 to close at N54.46 per share. Ashaka Cement Plc and Ecobank Transnational Incorporated Plc chalked up N1.84 and N1.71 in that order to close at N38.74 and N40 per share. Conversely, two oil stocks, Oando Plc and Conoil Plc led the losers' chart shedding N10.50 and N5.20 respectively to close at N199.50 and N99.80 per share.

FRIDAY 27
Market indices close higher
Investors trading on the floor of the Nigerian Stock Exchange, NSE, staked N12.74billion on 1.24billion shares in 13,658deals. The Insurance subsector led in volume turnover with 595million shares worth N1.9billion in 2,347deals. The banking subsector followed with 395.5million shares worth N8.4billion in 6,753deals.

95 equities were traded in out of which 66 stocks appreciated in value while 29 depreciated in value. Oando Plc led on the gainers' chart with N4.49, opening at N199.50, to close at N203.99. LafargeWAPCO followed with N2.40, opening at N49.20, to close at N51.60. Nestlé topped the price losers with a loss of N7.00, opening at N232.00, to close at N225.00. Ecobank Transnational Incorporated, ETI, followed with N1.29, opening at N40.00, to close at N38.71. The Market capitalization closed at N10.72trillion and the All-Share Index closed at 54,905.36.