Index Sheds 2.54% in 5 Days as Diamond Bank Loses 31.58%

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By Dipo Olowookere

Last week on the floor of the Nigerian Stock Exchange (NSE), the All-Share Index and market capitalisation depreciated by 2.54 percent to close the week at 30,874.17 points and N11.271 trillion respectively.

Similarly, all other indices finished lower with the exception of the NSE ASeM, NSE Insurance and NSE Consumer Goods indices that finished higher by 0.09 percent, 4.71 percent and 0.08 percent respectively.

Also in the week, a total of 25 equities appreciated in price, lower than 30 in the previous week, while 41 equities depreciated in price, higher than 24 of the previous week, with 103 equities remaining unchanged, lower than 115 equities recorded in the preceding week.

Diamond Bank topped the losers’ chart with 31.58 percent loss to close at 65 kobo per share against 95 kobo per share it opened for the week.

Prestige Assurance followed with 30.38 percent decline to settle at 55 kobo per share, while Unity Bank went down by 18.82 percent to close at 69 kobo per share.

Associated Bus Company fell by 12.90 percent to end at 27 kobo per share, while AG Leventis Nigeria depreciated by 12.12 percent to quote at 29 kobo per share.

At the other end, Continental Reinsurance gained 33.33 percent to finish at N2 per share, while Beta Glas appreciated by 9.98 percent to close at N68.30 per share.

Cutix garnered 9.64 percent to close at N1.82 per share, GlaxoSmithKline rose by 9.43 percent to end at N14.50 per share, while Mutual Benefits Assurance gained 8.70 percent to settle at 25 kobo per share.

Business Post reports that a total turnover of 1.2 billion shares worth N14.3 billion in 15,841 deals were traded in the week by investors in contrast to a total of 1.282 billion shares valued at N23.1 billion that exchanged hands the previous week in 11,467 deals.

The Financial Services sector, measured by volume, led the activity chart with 963.3 million shares valued at N7.5 billion traded in 8,871 deals, contributing 80.38 percent and 52.79 percent to the total equity turnover volume and value respectively.

The Consumer Goods industry followed with 83 million shares worth N4.2 billion in 2,802 deals, while the third place was occupied by the Industrial Goods sector with a turnover of 60.8 million shares worth N2 billion in 1,639 deals.

Trading in the top three shares; Diamond Bank, Access Bank and Universal Insurance, measured by volume, accounted for 512.5 million shares worth N1.4 billion in 1,437 deals, contributing 42.76 percent and 9.57 percent to the total equity turnover volume and value respectively.

During the week, there was no trade recorded for Exchange Traded Products (ETPs). However, a total of 5,637 units valued at N1.301 million was transacted the previous week in 5 deals, while a total of 16,686 units of Federal Government Bonds valued at N16.442 million were traded in the week under review in 10 deals compared with a total of 3,032 units valued at N3.046 million transacted a week earlier in 16 deals.

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