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- Bear Holds Sway as Equities Lose N107bn
Bear Holds Sway as Equities Lose N107bn
- By Kayode Ogunwale
- Published September 13th, 2010
- StockWorld
- Unrated
THE bear continued to hold sway over the capital market as investors reacted to the suspension of some equities on the Nigerian Stock Exchange, as the market was open for three days due to the public holiday declared by the federal government to mark the Id-el-fitri celebrations.
Value of the 199 first tier equities went down by 1.8 per cent during the three day trading. The All Share Index which opened the week at 24,241.84 dropped by 439.05 points to 23,802.79 at the close of trading on Wednesday last week.
The market capitalization also went down by N107.59 billion during the three day trading to N5.83 trillion from N5.94 trillion. The loss was due to price depreciations recorded by blue chip stocks led by Nestle Nigeria Plc.
Nestle had led 51 other stocks on the price losers’ list with a N15.00 loss to sell at N360.00 per share. It was followed by Nigerian Breweries which lost N3.23 to close the week selling at N69.15. Other major price losers include Oando which lost N3.09, Lafarge WAPCO which lost N2.11, University Press which lost N1.80 as well as National Salt Company which shed 89 kobo from its share price.
7-Up Bottling Company Plc on the other hand, led on the gainers’ table with a gain of N4.90 to close at N52.80 per share while Julius Berger Nigeria Plc followed with N3.25 to close at N55.98 per share. Other major price gainers’ include Benue Cement Company Plc with a price gain of N2.50, Northern Nigeria Flour Mills Plc which gained N2.32, African Petroleum Plc added N1.45 to its share price, while Ashaka Cement Plc gained N1.15 during the week.
Meanwhile activities went down by 59 per cent as a turnover of 591.85 million shares worth N5 billion in 17,660 deals was recorded during the week, in contrast to a total of 1.44 billion shares valued at N11.95 billion exchanged the previous week in 32,967 deals.
The banking subsector remained the most active, with 304 million shares worth N2.23 billion exchanged by investors in 9,650 deals. Volume in the subsector was largely driven by activity in the shares of Zenith Bank Plc, FinBank Plc, Guaranty Trust Bank Pl and First Bank of Nigeria Plc. Trading in the shares of the four Banks accounted for 145.8 million shares, representing 48 per cent and 24.6 per cent of the subsector’s turnover and total volume traded during the week, respectively.
The insurance subsector, boosted by activity in the shares of AIICO Insurance Plc and NEM Insurance Plc, followed on the activity chart with a turnover of 79.63 million shares valued at N80.4 million in 884 deals.
Value of the 199 first tier equities went down by 1.8 per cent during the three day trading. The All Share Index which opened the week at 24,241.84 dropped by 439.05 points to 23,802.79 at the close of trading on Wednesday last week.
The market capitalization also went down by N107.59 billion during the three day trading to N5.83 trillion from N5.94 trillion. The loss was due to price depreciations recorded by blue chip stocks led by Nestle Nigeria Plc.
Nestle had led 51 other stocks on the price losers’ list with a N15.00 loss to sell at N360.00 per share. It was followed by Nigerian Breweries which lost N3.23 to close the week selling at N69.15. Other major price losers include Oando which lost N3.09, Lafarge WAPCO which lost N2.11, University Press which lost N1.80 as well as National Salt Company which shed 89 kobo from its share price.
7-Up Bottling Company Plc on the other hand, led on the gainers’ table with a gain of N4.90 to close at N52.80 per share while Julius Berger Nigeria Plc followed with N3.25 to close at N55.98 per share. Other major price gainers’ include Benue Cement Company Plc with a price gain of N2.50, Northern Nigeria Flour Mills Plc which gained N2.32, African Petroleum Plc added N1.45 to its share price, while Ashaka Cement Plc gained N1.15 during the week.
Meanwhile activities went down by 59 per cent as a turnover of 591.85 million shares worth N5 billion in 17,660 deals was recorded during the week, in contrast to a total of 1.44 billion shares valued at N11.95 billion exchanged the previous week in 32,967 deals.
The banking subsector remained the most active, with 304 million shares worth N2.23 billion exchanged by investors in 9,650 deals. Volume in the subsector was largely driven by activity in the shares of Zenith Bank Plc, FinBank Plc, Guaranty Trust Bank Pl and First Bank of Nigeria Plc. Trading in the shares of the four Banks accounted for 145.8 million shares, representing 48 per cent and 24.6 per cent of the subsector’s turnover and total volume traded during the week, respectively.
The insurance subsector, boosted by activity in the shares of AIICO Insurance Plc and NEM Insurance Plc, followed on the activity chart with a turnover of 79.63 million shares valued at N80.4 million in 884 deals.
