Oando, Ecobank, Access Bank depressed capital market, as investors loses N0.101tr

Transactions at the Nigerian Stock Exchange (NSE) last week shown Oando Plc, Ecobank Transnational Incorporated, and Access Bank Plc led the market losers’ chart.

From the traded data on the floor of The Nigerian Stock Exchange (NSE) revealed that the Market Capitalisation depreciated to N8.839tn from N8.940tn losing N0.101trillion.

NSE All-Share Index also depreciated by 1.13 per cent to close the week at 25,694.79.

Oando Plc share price depreciated to N4.00 from N5.35, losing N1.35, representing 25.23percent, while that of Ecobank Transnational Incorporated slid to N14.35 from N18.00, accounting for N3.65 which representing 20.28 per cent.

Also the share of Access Bank dropped to N3.95 from N4.42, losing N0.47 represents 10.63 per cent.

In the same vein, Honeywell Flour Mill Plc depreciated to N1.62 from N1.80, accounts for N0.18 representing 10.00 per cent, while Ikeja Hotel share depreciated from N2.60 to N2.35, losing N0.25 represents 9.62 per cent along with E-Tranzact International Plc stocks which fell to N2.81 from N3.10, losing N0.29 representing 9.35per cent.

Other losers were Wema Bank Plc, Diamond Bank Plc, Transnational Corporation of Nigeria Plc, and 7-Up Bottling Company Plc.

The total companies participated in trading for the week stood at forty-one (41) equities depreciated in shares price in contrast to twenty-two (22) equities of the previous week, other side, twenty (20) equities appreciated in shares price compared to thirty-nine (39) equities of the previous week, while one hundred and twenty- eight (128) equities remained unchanged same as previous week.

A turnover of 11.907 billion shares worth N18.338 billion in 19,508 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.111 billion shares valued at N7.448 billion that exchanged hands last week in 15,562 deals.

The Financial Services Industry which measured by volume, led the trading activity chart with 11.692 billion shares valued at N14.734 billion traded in 13,094 deals; thus contributing 98.20% and 80.35% to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 71.891 million shares worth N175.603 million in 777 deals. While the third place went to the Consumer Goods Industry with a turnover of 69.718 million shares worth N1.179 billion in 3,019 deals.

The most traded stocks are three equities named, Wema Bank Plc, Unity Kapital Assurance Plc and Zenith Bank International Plc which was measured in volume accounted for 11.006 billion shares worth N11.274 billion in 2,856 deals, contributing 92.43 per cent and 61.48 per cent to the total equity turnover volume and value respectively.

Similarly, all other indices finished lower during the week, with the exception of the NSE Premium Index and the NSE Consumer Goods Index that increased by 0.89 per cent, and 0.78 per cent, respectively.

On the gainers side, Conoil Plc, United Bank for Africa Plc, Law Union & Rock Insurance Plc led the gainers.

Therefore, Conoil share price rose from N16.56 to closed at N20.10, gaining N3.54, representing 21.38 percent, while that of UBA soared from N3.44 to anchored at N3.77 accounting for N0.33 represents 9.59 per cent and followed shortly with Law Union & Rock Insurance (Nig.) Plc with share price hits N0.700 from N0.64 leaving N0.06 as gain which represents 9.38 per cent.

Other stocks that led the gainers chart are Champion Breweries Plc, Learn Africa Plc, Tiger Branded Consumer Goods Plc, Nigerian Breweries Plc, the Okomu Oil Palm Company Plc, Unilever Nigeria Plc, Neimeth Plc.