Aduragbemi Omiyale
By Aduragbemi Omiyale
The level of activity at the nation’s stock market waned last week as investors continue to search for other forms of investments better than equities for now.
The recent uptick in the fixed income market has continued to pose a threat to the Nigerian Stock Exchange (NSE), resulting in the decline in the space lately.
Last week, a total of 2.7 billion shares worth N23.7 billion were traded in 27,844 deals in contrast to the 2.8 billion stocks worth N29.7 billion transacted in 31,380 deals a week earlier.
Business Post reports that the activity chart was dominated by financial equities, trading 2.0 billion units valued at N13.4 billion in 14,832 deals, accounting for 75.74 per cent and 56.70 per cent of the trading volume and value respectively.
Consumer goods shares traded 181.8 million units worth N3.6 billion in 4,676 deals, while conglomerates stocks transacted 175.1 million units valued at N324.0 million in 1,168 deals.
It was observed that LivingTrust Mortgage Bank, FBN Holding and Zenith Bank accounted for 1.208 billion units worth N6.6 billion in 3,785 deals in the week, contributing 45.02 per cent and 27.81 per cent to the total equity turnover volume and value respectively.
In the five-day trading week, a total of 16 equities appreciated in price, lower than 22 stocks in the previous week. In addition, 55 equities depreciated in price, lower than 60 shares in the previous week, while 91 stocks traded flat, higher than 80 equities recorded in the previous week.
On the gainers’ list, Mutual Benefits Assurance was top with a price growth of 10.53 per cent to settle at 42 kobo per share.
Morison Industries gained 10.00 per cent to trade at 55 kobo per share, Mc Nichols appreciated by 9.59 per cent to finish at 80 kobo per unit, UPDC REIT moved higher by 9.09 per cent to close at N6 per share, while UAC Property gained 6.67 per cent to end at 80 kobo per unit.
On the flip side, Northern Nigerian Flour Mills was the worst-performing stocks with a price decline of 18.84 per cent to close at N7.02 per share.
NEM Insurance depleted by 18.00 per cent to N2.05 per unit, Royal Exchange lost 16.67 per cent to sell for 30 kobo per unit, GTBank depreciated by 15.69 per cent to settle at N30.35 per share, while Livestock Feeds declined by 15.06 per cent to finish at N2.03 per unit.
When the trading week ended, the All-Share Index and the market capitalisation of the NSE depreciated by 3.04 per cent to close at 40,439.85 points and N21.156 trillion respectively.
Similarly, all other indices finished lower with the exception of NSE Growth index which rose by 0.42 per cent while the NSE ASeM and NSE Sovereign Bond indices remained unchanged.
