NSE Investors Lose N61bn In One Week | Independent Newspapers Limited
Newsletter subscribe

Latest News

NSE Investors Lose N61bn In One Week

Posted: Sep 12, 2016 at 8:41 pm   /   by   /   comments (0)

Bamidele Ogunwusi

Lagos – Investors of The Nigerian Stock Exchange (NSE) are looking forward to a better trading week when trading activities commence tomorrow to make up for the losses they suffered last week.

The investors lost N61 billion as the Nigerian bourse dropped from N9.534 trillion it closed the previous week to N9.473 trillion.

Activities on the floors of the Nigeria Stock Exchange (NSE) last week dropped as the NSE All Share Index (ASI) and market capitalisation declined by 0.65 per cent to close at 27,577.52 and N9.473 trillion respectively.

For the NSE ASI, the stock market depreciated 179.15 having moved down from 27,756.67 it stood the previous week.

Similarly, all other indices finished lower during the week, with the exception of the NSE Main Board Index, NSE Insurance Index, NSE Consumer Goods Index and the NSE Pension Index that appreciated by 0.01 per cent, 0.12 per cent, 0.50 per cent and 0.26 per cent respectively while the NSE ASeM Index closed flat.

Meanwhile, a total of 9,140 units of Federal Government Bonds valued at N9.198 million were traded in six deals compared to a total of 4,470 units of Federal Government Bonds valued at N4.313 million transacted last week in eight deals.

Analysis of trading on Friday showed that at the close of trading, the NSE ASI inched up by 0.01 percentage points to close at 27,577.52, bringing the year-to-date return to -3.72per cent (-6.37per cent – over the last one year on an annualized basis).

Friday’s trading was driven by Conoil (+10.19per cent, N23.79), 7UP (+4.61per cent, N146.45), PZ Cussons (+4.07per cent, N18.65), Stanbic IBTC (+3.38per cent, N15.00), UBA (+2.50per cent, N4.51), Guinness (+2.20per cent, N100.00), Oando (+1.41per cent, N5.00), Access Bank (+1.10per cent, N5.53), Unilever (+0.57per cent, N40.27), and Total (+0.45per cent, N241.08).

Gainers numbering 22 dominated trading as against 17 that were losers.

For the week under review, 24 equities appreciated in price, lower than 28 equities of the previous week.

Thirty-eight equities depreciated in price, higher than 31 equities of the previous week, while 118 equities remained unchanged lower than 121 equities recorded in the preceding week.

May& Baker was the highest gainer for the week having risen 22.22 per cent in share price while Wema Bank was the highest loser with 12 per cent drop in share price.