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NSE Loses N477bn in Market Cap in One Week

NSE Loses N477bn in Market Cap in One Week

The Nigerian equity market has faced a lot of hurdles in the last few months which did not help the capital market.

The activities in the stock market resume downward trading this week with 4.12 per cent depreciation after gaining 6.52 per cent last week.
At the end of the weekly trading, index movement shows that, the NSE All-Share Index (NSE ASI) and market capitalization depreciated by 1,454.84 points or 64.11 per cent and N477 billion to close on Friday at 33,926.84 and N11.241 trillion respectively.
Many financial analysts believed that fall in oil prices which is the mainstay of Nigeria’s economy, drop in exchange rate and the upcoming 2015 general elections among other factors are responsible for the current lull in Nigeria stock market.
The potential risks based on the factors listed are key considerations for both foreign and local investors for future planning.
Financial expert, Mr. Olubunmi Asaolu, Head of Equity Research of FBN Capital Limited believed that falling oil revenues do not bode well for reserves and increases the risk of currency devaluation, which simultaneously leads to the offshore investor community finding ways to exit.
When the trading resume on Monday, it recorded the equities market closed today on a positive note, as NSE All Share Index (NSE ASI) appreciated by 0.30 per cent to close at 35,488.80 basis points, compared with the 2.51 per cent appreciation recorded previously.
Market breadth closed negative as Champion Breweries led 25 gainers against 19 losers topped by Okomu Oil at the end of the trading.
Market turnover closes negative as volume moved southwards by 56.11 per cent against 39.38 per cent uptick recorded in the previous session. Transnational Corporation of Nigeria (Transcorp), Zenith Bank and FBN Holdings were the most active to boost market turnover. Zenith Bank and Nigerian Breweries top market value list.
The NSE Alternative Securities Market Index (ASem) records 1.44 per cent gained to emerge the most supportive sectoral index among others while the NSE Industrial Index emerged the most hit to close with 0.16 per cent loss.
On Tuesday, the equities closed on a negative note, as NSE ASI depreciated by 1.65 per cent to close at 34,896.50 basis points.
Market breadth closed negative as Cutix led 23 gainers against 29 losers topped by Ashaka Cement at the end of the day’s trading.
Market turnover closes negative as volume moved southwards by 9.54 per cent. Transcorp, Zenith Bank and FBN Holdings were the most active to boost market turnover. Zenith Bank and Nigerian Breweries top market value list.
The NSE Oil & Gas Index records 2.14 per cent gained to emerge the most supportive sectoral index among others while the NSE Industrial Index emerged the most hit to close with 4.15 per cent loss.
Consequently, on Wednesday equities market closed on a negative note, as NSE ASI depreciated by 2.15 per cent to close at 34,145.79 basis points.
Market breadth closed negative as RT Briscoe led 17 gainers against 35 losers topped by Transcorp.
Market turnover closes positive as volume moved northwards by 49.11 per cent. Cornerstone Insurance, FCMB and FBN Holdings were the most active to boost market turnover. Oando and Guaranty Trust Bank top market value list.
The NSE Asem Index records 2.14 per cent gained to emerge the most supportive sectoral index among others while the NSE Lotus Islamic Index emerged the most hit to close with 2.36 per cent loss.
On Thursday, market closed on a negative note, as NSE ASI depreciated by 2.10 per cent to close at 33,428.76 basis points.
Market breadth closed negative as Wapic Insurance led 10 gainers against 42 losers topped by Total Nigeria.
Market turnover closes positive as volume moved northwards by 16.49 per cent. Continental Insurance, Sterling Bank and FBN Holdings were the most active to boost market turnover. Nestle Nigeria and Guaranty Trust Bank top market value list.
The NSE Insurance Index records 0.27 per cent loss to emerge the most supportive sectoral index among others while the NSE Oil & Gas Index emerged the most hit to close with 4.47 per cent loss.
Bears sustain dominance on Friday as stocks closed on a positive note, as NSE ASI appreciated by 1.49 per cent to close at 33,926.18 basis points.
Market breadth closed negative as Dangote Cement led 22 gainers against 24 losers topped by Flour Mill Plc at the end of the trading.
Market turnover closes positive as volume moved northwards by 4.15 per cent. UBA, Sterling Bank and FBN Holdings were the most active to boost market turnover. FBN Holdings and Zenith Bank top market value list.
The NSE Industrial Index records 3.31 per cent gain to emerge the most supportive sectoral index among others while the NSE Oil & Gas Index emerged the most hit to close with 0.28 per cent loss.
When the closing bell rang on Friday, a turnover of 1.359 billion shares worth N14.565 billion in 20,844 deals were traded this week by investors on the floor of the exchange in contrast to a total of 1.849 billion shares valued at N30.863 billion that exchanged hands last week in 27,397 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.054 billion shares valued at N7.185 billion traded in 10,959 deals; thus contributing 77.56 per cent and 49.33 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with a turnover of 111.742 million shares worth N618.169 million in 1,465 deals. The third place was occupied by the Oil & Gas Industry with 65.386 million shares worth N2.046 million in 2,417 deals.
Summary of price changes indicates that 19 equities appreciated in price during the week lower than 51 equity of the preceding week. Fifty equities depreciated in price higher than 28 equities of the preceding week, while 131 equities remained unchanged lower than 121 recorded in the preceding week.
Champion Breweries Plc led the gainers chart in terms of value, with N1.53 kobo to close at N9.85 kobo per share, followed by GlaxoSmithKline Consumer Nigeria Plc with N1.00 kobo to close at N52.00 kobo per share and Berger Paints Nigeria Plc N0.72 kobo to close at N8.70 kobo.
Others gainers are Guaranty Trust Bank Plc with N0.28 kobo to close at N23.40 kobo, Union Bank of Nigeria Plc with N13.83 kobo to close at N8.35 kobo, P. Z. Industries Plc with N0.20 kobo to close at N22.20 kobo, Stanbic IBTC Holdings Plc with N0.20 kobo to close at N28.20 kobo, Cutix Plc with N0.19 kobo to close at N1.53 kobo, 7-Up Bottling Company Plc with N0.17 kobo to close at N149.00 kobo and Access Bank Plc withN0.15 kobo to close at N27.83 kobo.
On the other hand, Nestle Foods Nigeria Plc recorded the highest loss in terms of value amounted to N45.22 kobo to close at N855.00 kobo, followed by Dangote Cement Plc loss N16.90 kobo to close at N189.00 kobo, Mobil Oil Nigeria Plc loss N16.08 kobo to close at N148.92 kobo, Total Nigeria Plc loss N11.60 kobo to close at N147.40 kobo and Flour Mills Nigeria Plc with N11.60 kobo to close at N147.40 kobo.
Others are Seplat Petroleum Development Company with N01 kobo to close at N426.01 kobo, Julius Berger Nigeria Plc with N6.54 kobo to close at N60.66 kobo, Nigerian Breweries Plc with N4.66 kobo to close at N157.51 kobo, Cadbury Nigeria Plc with N4.54 kobo to close at N42.09 kobo and UAC of Nigeria Plc with N4.01 kobo loss to close at N41.99 kobo.

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