44 Stocks Lower NSE Index by 2.65% in One Week

By Modupe Gbadeyanka

The All-Share Index (ASI) and market capitalisation of the Nigerian Stock Exchange (NSE) depreciated by 2.65 percent to 28,843.53 points and N14.857 trillion respectively last week.

During the week, all other indices finished lower with the exception of NSE insurance and NSE consumer goods index, which appreciated by 0.90 percent and 0.09 percent respectively, while NSE ASeM index closed flat.

In the 5-day trading week, 17 equities appreciated in price during the week, lower than 32 equities in the previous week, while 44 equities depreciated in price, higher than 28 equities in the previous week, while 102 equities remained unchanged, lower than 103 equities recorded in the preceding week.

Eterna led the losers’ chart as the stock lost 23.81 percent to close at N2.40 per share, while Honeywell Flour Mills depreciated by 17.80 percent to close at 97 kobo per share, with Associated Bus Company declined by 17.07 percent to close at 34 kobo per share.

On the gainers’ table, Linkage Assurance took the lead with a price appreciation of 18.75 percent to close at 57 kobo per share. Neimeth International Pharmaceuticals appreciated by 17.02 percent to close at 55 kobo per share, while Vitafoam gained 10 percent to close at N5.50 per share.

A total turnover of 1.6 billion shares worth N26.1 billion in 21,444 deals were traded in the week by investors compared with 1.2 billion shares valued at N22.8 billion transacted the previous week in 21,156 deals.

Financial stocks led the activity chart by volume with 1.2 billion shares valued at N13.7 billion traded in 11,306 deals, contributing 73.93 percent and 52.35 percent to the total equity turnover volume and value respectively.

Consumer goods equities followed with 137.1 million units worth N3.2 billion in 2,908 deals, while shares in the ICT sector traded 94. 5 million units for N6.6 billion in 894 deals.

A further breakdown showed that trading in Veritas Kapital Assurance, Zenith Bank and GTBank accounted for 604.7 million shares worth N9.4 billion in 4,069 deals, contributing 38.74 percent and 35.94 percent to the total equity turnover volume and value respectively.