Investors’ woes continue as stock market value drops by N42.3bn

Investors’ woes continued for the second stock market trading day as market value (market capitalisation) on the Nigerian Stock Exchange, NSE, yesterday declined further by N42.3 billion. On Monday, investors lost over N12.3 billion, thus making it a total loss of over N54.6 billion in two trading days.
 

In the same vein, another major stock market indicator, the NSE All Share Index yesterday declined by 0.45 per cent , while the Year- to-Date, YtD return stood at -4.07 per cent. Specifically, the All Share Index closed at 27,475.48 against the previous close of 27,599.48 while market capitalisation closed at N 9.436 trillion against previous close of N9.478 trillion. Volume traded increased by 28.73 per cent from 142.339 million shares to 183.238 million shares, while the total value of stock traded increased by 41.00 per cent from N1.429 billion to N2.015 billion in 3,488 deals. 

The Financial Services sector led the activity chart with 139.999 million shares exchanged for N0.67 billion. Conglomerates came next with 15.446 million shares traded for N0.024 billion, Consumer Goods, Oil And Gas, Services sectors followed in that order on the activity chart. United Bank for Africa, UBA, First Bank Nigeria Holding, FBNH, Access Bank, Transcorp and Oando were the most active stocks by volume. Oando, NEM Insurance, Neimeth, Unity Bank and Honeywell Flour Mills emerged the highest price gainers on the chart, while UBA, Cadbury, Access, FBNH and Skye Bank topped the losers chart.

OANDO pushes Oil & Gas Index 1.4% Northward 

Further analysis showed that the Oil & Gas index rose 1.4 per cent as reports of a N94.6billion loan restructuring deal triggered a 10.2 per cent rally in OANDO. Similarly, the 5.0 per cent gain in NEM Insurance also ensured the Insurance index inched up by 0.1 percent and ended positive for the second day consecutive trading session this week. On the flip side, the Banking index declined (-1.3 per cent) , which was dragged lower by the decline in Access Bank dropping by -4.7 per cent or ( 5 kobo) , followed by Eco Transnational ETI , which dropped by ( -0.5 per cent) or 50 kobo and Guaranty Trust Bank nosedived by (-0.5 per cent) or 22 kobo, while the Industrial and Consumer Goods indices fell 0.3 per cent and 0.1 per cent respectively as a result of the depreciation in Dangote Cement , DANCGEM N4.00 or 0.6 per cent), Nigerian Breweries 25 kobo or (-0.4 per cent ) and Cadbury (-5.0 percent ).