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NSE index drops by 2.5%
The Nigerian Stock Exchange (NSE) share index dropped by 2.5percent to close last weekend at 23,109.88 as a turnover of 265.2 million shares worth N3.38 billion in 18,450 deals was recorded, in contrast to a total of 349.1 million shares valued at N4.3 billion exchanged previous week in 19,139 deals.
As usual, there were no transactions in the federal government development stocks, government bonds and industrial loans/preference stocks sectors.
The banking sub-sector was the most active during the week (measured by turnover volume), with 196.0 million shares worth N1.3 billion exchanged by investors in 8,040 deals. Volume in the banking sub-sector was driven in part by activity in the shares of First Atlantic Bank Plc and Zenith Bank Plc. Trading on the shares of the two banks accounted for 94.8 million shares, representing 48.4 percent of the subsector’s turnover. The petroleum (marketing) sub-sector followed on the week’s activity chart with a turnover of 17.7 million shares valued at N1.02 billion in 2,159 deals. Last week, the banking sub-sector led on the activity chart and was followed by the conglomerates sub-sector.
The All-share index dropped by 2.5 percent to close the week at 23,109.88.
Twenty-three stocks appreciated in price during the week, lower than the thirty-six in the preceding week. Julius Berger Nig Plc led the gainers’ chart with a gain of N3.66 to close at N21.16 per share while Cadbury Nigeria Plc followed with N1.00 to close at N61.00 per share. Other price gainers in the top 10 category include: UBA plc –(N0.80), Union Bank of Nigeria plc –(N0.72), First Bank of Nigeria Plc –(N0.65), CAP Plc –(N0.38), Royal Exchange Assurance Nig. Plc –(N0.34), BOC Gases Plc –(N0.25), First Atlantic Bank Plc –(N0.23), and SCOA Nig. Plc –(N0.12).
Fifty-six stocks suffered price depreciation; higher than the forty-two that suffered the same fate in the preceding week. Nestle Nigeria Plc led on the week’s price losers’ chart, dropping by N13.00 to close at N154.00 per share. Guinness Nigeria Plc followed on the price losers’ chart with a loss of N9.60 to close at N98.0 per share. Other price losers in the Top 10 category include: Total Nigeria plc –(N7.60), Conoil Plc –(N3.99), Nig. Bottling Co. Plc –(N3.60), Texaco (Nig) plc –(3.50), Mobil oil Nig. Plc –(3.00), Nigerian Breweries Plc –(N2,50), 7-Up bottling co. plc –(N1.91) and African Petroleum Plc –(N1.03).
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