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Equities Market: Investors move 1.2bn shares worth N10.3bn



Lack of monetary policy direction affecting foreign investment on NSE – experts

The Nigerian Equities market was closed on Monday and Tuesday in commemoration of the Eid-el-Kabir holidays, to resume trading activities today, Wednesday 14th September. Meanwhile, a turnover of 1.183 billion shares worth N10.300 billion in 16,522 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.115 billion shares valued at N13.817 billion that exchanged hands in the previous week in 16,083 deals.

Consequently, The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalization depreciated by 0.65 percent to close the week at 27,577.52 and N9.473 trillion respectively. Similarly, all other Indices finished lower during the week, with the exception of the NSE Main Board Index, NSE Insurance Index, NSE Consumer Goods Index and the NSE Pension Index that appreciated by 0.01 percent, 0.12 percent, 0.50 percent and 0.26 percent respectively while the NSE ASeM Index closed flat.

Twenty-four (24) equities appreciated in price in the course of last week, lower than twenty- eight (28) equities of the previous week. Thirty-eight (38) equities depreciated in price, higher than thirty-one (31) equities of the previous week, while one hundred and eighteen (118) equities remained unchanged lower than one hundred twenty- twenty-one (121) equities recorded in the preceding week.

Wema Bank Plc, Julius Berger Nigeria Plc and Unity Bank Plc topped the week’s declining stocks to close at 66 kobo, N39.44 and 68 kobo respectively following a decline of 12.00 percent, 9.73 percent and 9.33 percent respectively

On the other hand, May & Baker Nigeria Plc, ConoilPlc, and CutixPlc topped the week’s gainers chart adding 22.22 percent, 15.65 percent and 7.33 percent respectively to close at 99 kobo, N23.79 and N1.61 per share each.

The Financial Services Industry (measured by volume) led the activity chart with 1.015 billion shares valued at N7.136 billion traded in 11,012 deals; thus contributing 85.83 percent and 69.28 percent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 69.777 million shares worth N473.308 million in 564 deals. The third place was occupied by the Services Industry with a turnover of 42.223 million shares worth N75.881 million in 202 deals.

Top three traded equities in volume terms were United Bank for Africa Plc, Guaranty Trust Bank Plc and FBN Holdings Plc which accounted for 444.004 million shares worth N4.958 billion in 4,153 deals, contributing 37.53 percent and 48.13 percent to the total equity turnover volume and value respectively.

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