Negative Sentiment Depresses Stock Market
Goddy Egene Abiodun
Eromosele Daily Performance Summary
Bolstered by positive sentiments in tier-1 banks such as Guaranty Trust Bank Plc, Zenith Bank Plc and UBA Plc, the Nigerian bourse recorded a 0.99 per cent gain. The benchmark index settled at 34,781 points at the close of trades with a corresponding market capitalisation of N11.82 trillion. All major sector trackers closed positive save for the Industrials (0.16%). The Banking (1.92%), Consumer goods (0.76%) and Oil & Gas (3.48%) trackers all closed positive. Also, market activity improved as both volume and value of trades rose by 65.0 per cent and 113.6 per cent respectively. At the close of the session, 306 million units of shares valued at N2.98 billion were exchanged on the bourse. UBA Plc and Diamond Bank Plc emerged the most actively traded stock in terms of volume (39.1% of total volume traded) while Guaranty Trust Bank Plc accounted for 13.1 per cent of total turnover on the Bourse.
The NSE ASI depreciated by 0.21 per cent to close at 34,706.93 points on Tuesday, compared with the appreciation of 0.99 per cent recorded the prior day. The depreciation recorded in the Index could be attributed to the losses recorded in the share prices of some highly capitalised stocks such as: Lafarge WAPCO Plc, UBAPlc, Diamond Bank Plc, UACN and Dangote Cement Plc, amongst others. Similarly, the market capitalisation depreciated by 0.21 per cent to close at N11.79 trillion, compared with the appreciation of 1.03 per cent recorded yesterday to close at N11.82 trillion. The total value of the stocks traded on the floors of the NSE was N4.15 billion, up by 39.30 per cent from N2.98 billion traded the previous day.
The NSE ASI declined further on Wednesday largely due to negative sentiments towards Guaranty Trust Bank Plc, Nestle Nigeria Plc and ETI Plc which offset mild gains in the likes of Nigerian Breweries Plc and Skye Bank Plc. The benchmark index thus slid 0.50 per cent to close at 34,533.40 points. In the same way, market capitalisation declined by N58.7 billion to N11.73 trillion. The Oil & Gas (0.03%) tracker was the sole gainer driven by mild interest in Oando Plc (1.41%) and Eterna (4.91%). The Consumer goods (0.65%), Industrials (0.18%) and Banking (1.23%) sectors all closed negative. market activity experienced a surge as volume and value of trades rose by 426.8 per cent and 32.4 per cent respectively. Consequently, 1.88 billion unit of shares valued at N5.49 billion were exchanged on the bourse.
Mixed concerns on the implication of the MPC’s decision on CRR led to a 0.21 per cent decline in Thursday’s session. Losses in key momentum stocks Zenith Bank Plc, SEPLAT Plc and Nigerian Breweries Plc shaved a cumulative 50.56 points off the benchmark index. At the close of trades, the ASI settled at 34,459.84points while market capitalisation shed N25.04bn to settle at N11.71 trillion. Market activity significantly declined as volume and value of trades dipped by 89.6 per cent and 75.3 per cent respectively. Consequently, 192 million unit of shares valued at N1.38 billion were
STANBIC IBTC STOCKBROKERS LIMITED
CSL STOCKBROKERS LIMITED
RENCAP SECURITIES (NIG) LIMITED
EFCP LIMITED
FBN SECURITIES LIMITED
CORDROS CAPITAL LIMITED
CARDINALSTONE SECURITIES LIMITED
CHAPEL HILL DENHAM SECURITIES LTD
PARTNERSHIP SECURITIES LIMITED
INVESTMENT ONE STOCKBROKERS INT’L LTD CSL STOCKBROKERS LIMITED STANDARD ALLIANCE CAPTL & ASSET MGT. LTD
GREENWICH TRUST LIMITED
STANBIC IBTC STOCKBROKERS LTD
FBN SECURITIES LIMITED
CORDROS CAPITAL LIMITED
CARDINALSTONE SECURITIES LIMITED
READINGS INVESTMENTS LIMITED
EFCP LIMITED
RENCAP SECURITIES (NIG) LIMITED exchanged on the Bourse in 3,876 deals. Indicative of the sustained negative sentiments, all major sector trackers
13.83
13.04
7.02
5.19
5.11
3.58
2.95
2.95
2.53
2.06 10.51 9.63
7.18
6.59
5.09
4.91
3.73
2.99
2.97
2.36 closed in the red.
At the close of trading for the week last Friday, the NSE ASI depreciated by 0.54 per cent to close at 34,272.09 points, compared with the depreciation of 0.21 per cent recorded the prior day. The depreciation recorded in the Index was as a result of the losses recorded in the share prices of Forte Oil Plc, Skye Bank Plc, UBAPlc, Transcorp Plc and Total Nigeria Plc, amongst others. Similarly, the market capitalisation depreciated by 0.54 per cent to close at N11.64 trillion, compared with the depreciation of 0.21 per cent recorded the previous day to close at N11.71 trillion. Market Turnover
A turnover of 2.943 billion shares worth N16.045 billion in 21,306 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.626 billion shares valued at N14.426 billion that exchanged hands the previous week in 20,124 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2,624 billion shares valued at N8.189 billion traded in 11,611 deals; thus contributing 89.14 per cent and 51.04 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with a turnover of 82.643 million shares worth N4,752 billion in 3,753 deals. The third place was occupied by the Conglomerates Industry with 73.966 million shares worth N365.50 million in 948 deals.
Trading in the Top Three Equities namely – Lasaco Insurance Plc, United Bank for Africa Plc, and Skye Bank Plc, (measured by volume) accounted for 1.864 million shares worth N2.028 billion in 1,972 deals, contributing 63.33 per cent and 12.64 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 25,211 units of Exchange Traded Products (ETPs) valued at N990,777.65 executed in 23 deals compared with a total of 25,469 units valued at N3.339 million transacted the previous week in 53 deals.
A total of 10,333 units of Federal Government Bonds valued at N11.795 million were traded this week in 2 deals. There was no trade in bonds in the previous week. Gainers and Losers
Meanwhile, the price movement chart of the NSE showed that a total of 39 equities appreciated in price during the week, higher than thirty 30 equities of the preceding week. Thirty-two equities depreciated in price, lower than 41 equities of the preceding week, while 122 equities remained unchanged, same as recorded in the preceding week.
The top 10 gainers were: Beta Glass Plc (N3.40), Vono Plc (28 kobo) NEM Insurance Plc (20 kobo), Skye Bank Plc (40 kobo), May & Baker Plc (26 kobo), Airline Services and Logistics Plc (34 kobo), Fidson Plc (39 kobo), Pfizer (10 kobo), Trans Nationwide Express Plc (9 kobo) and Associated Bus Company Plc (4 kobo).
On the other hand, the top 10 losers included: SEPLAT Plc (N37.00), VITAFOAM Plc (N1.43), AT & T Global Information Solution Plc (N1.17), RT Briscoe Plc (12 kobo), Dangote Flour Plc (57 kobo), NAHCO (72 kobo), Evans Medical Plc (18 kobo), Carverton Plc (19 kobo), AG Leventis Plc (8 kobo) and Portland Paints Plc (17 kobo).